Article 1071.1 requires the syndicate to establish a self-insurance fund, liquid and available, separate from the contingency fund, allocated to paying the deductibles under the syndicate's insurance and repairing damage caused to property (art. 1077 CCQ).
This regime comes from Bill 141 (2018), in force since April 15, 2020, not from Bill 16: a frequent confusion.
The fund's amount is set based on the applicable deductibles, plus a reasonable additional amount. It is not the contingency fund and is kept separately.
CondoAide tracks the self-insurance fund as a distinct fund, with its own contributions and balance.
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CondoAide helps self-managed Quebec syndicates keep their register, finances and meetings aligned with the Civil Code.