Humber/Ontario Real Estate Course 3 Exam Practice

If a condominium board of directors approves a new rule:

1. That Rule Goes into Effect After 30 Days, If an Owner's Meeting Is Not Requisitioned (by the Owners) During That Time Period

2. That Rule Goes into Effect Immediately

3. That Rule Must Be Approved by the Majority of Owners

4. The Board Must Requisition a Meeting of the Owners Within 60 Days to Gain Approval for This New Rule

5. It Must Be Published in the Local Newspaper

6. It Is Subject to Review by the Condominium Authority Tribunal

The correct answer is: That Rule Goes into Effect After 30 Days, If an Owner's Meeting Is Not Requisitioned (by the Owners) During That Time Period

The correct answer states that if a condominium board of directors approves a new rule, it goes into effect after 30 days if an owner's meeting is not requisitioned during that time period. This aligns with standard practices in condominium governance which allow owners a period to request a meeting and challenge the rule if they disagree with it. The rationale behind this timeframe is to ensure that owners have sufficient notice and opportunity to respond to new rules made by the board. It provides a balance between the board's power to manage the condominium efficiently and the owners' right to participate in the governance of their property. If an owner's meeting is requisitioned, the proposed rule won't take effect until the owners have had a chance to discuss and vote on it. This process supports transparency and accountability in condominium management, ensuring that owners are not left unaware of potentially significant changes to their community's rules. Contextually, the other options either misinterpret the requirement for enforcing new rules or suggest unnecessary steps for approval that do not align with the established frameworks governing condominium management in Ontario. For instance, immediate effect without a waiting period does not provide owners with a chance to voice concerns, while requiring majority approval or publication in a local newspaper would complicate the process beyond the typical measures in