Sentences with phrase «special levy money»

Section 7 - 9 of the Real Estate Council Rules was amended on July 1, 2012 to require a brokerage that holds special levy money on behalf of a strata corporation to hold that money in at least one trust account separate from the operating fund account and the contingency reserve fund (CRF) account.

(4) If subsection (3)(d) applies, within 7 days after the end of the month in which the contingency reserve fund money or special levy money was received, the brokerage must either

(c) if the brokerage is to hold special levy money, at least one separate trust account in the name of the strata corporation for the special levy money.

an indication of whether the strata management company will be holding one or more of the contingency reserve fund money, operating fund money, special levy money, and any other amounts;

(c) if the amount received is only special levy money it must be paid into an applicable trust account under subsection (2)(c);

Not exact matches

Indeed, these deals were special for all involved: (a) Levy enjoyed Madoff's inflated return rates of up to 40 % on the money he invested with Madoff; (b) Madoff enjoyed the benefits of large amounts of cash to perpetuate his fraud without being subject to JPMC's due diligence processes; and (c) JPMC earned fees on the loan amounts and watched the «special deals» from afar, escaping responsibility for any due diligence on Madoff's operation.»

Crystal Lake Park District commissioners have approved a $ 4 million tax levy but say they would consider increasing the levy next month so they can raise more money for special recreation.

All districts (or their taxpayers) receive extra money for specific programs (such as special adjustment aid, school levy tax credits, categorical aid and integration aid), regardless of wealth or tax effort.

Levy requests that most area school districts are seeking in the Feb. 13 special election would collect less local money from 2019 - 2021 than the current tax levies they are replacing.

6.11 In addition to an investment permitted under the Act, for the purposes of section 95 (2)(a) or 108 (4)(b)(i) of the Act, as applicable, a strata corporation may invest money held in the contingency reserve fund or money collected on a special levy in one or more of the following investments:

The changes, which are intended to simplify and modernize the provisions governing investments for money held in contingency reserve funds and collected on special levies, came in response to feedback from strata councils and investment experts.

An individual who is employed as a caretaker or manager by the strata corporation, or by a brokerage that provides strata management services is exempt from the requirements to be licensed in respect of collecting strata fees, special levies or other amounts levied by the strata corporation, as long as the exempt caretaker or manager promptly delivers the money to the strata corporation or brokerage.

Question: Should the money be deposited straight into the CRF account, as per the resolution, or should it go into a separate special levy account?

Balancing Opportunity and Responsibility: New Amendments to Strata Property Regulation Take Effect On July 17, 2014, an amendment to Section 6.11 of the Strata Property Regulation took effect, simplifying the provisions governing investments of contingency reserve funds and money collected for special levies.