C-38 - Companies Act

Section 227.8 Disposition versions

2022-06-10

227.8. The legal person must

(1)  maintain the social or community destination of the immovable;

(2)  set up a reserve sufficient to ensure the sound and prudent management, maintenance and preservation of the immovable;

(3)  appoint an auditor, who must be a member of the Ordre professionnel des comptables professionnels agréés du Québec;

(4)  have the immovable inspected by an expert at least every five years and submit the expert’s report at the legal person’s meeting that follows the filing of the report;

(5)  prepare a five-year plan for the maintenance and preservation of the immovable and the related budgets; and

(6)  on its balance sheet, in addition to the requirements set out in subsection 3 of section 98, give the date of the last inspection of the immovable, and report on the maintenance and preservation work done and on the budgets related to the five-year plan.

2022, c. 25, s. 12.