Restrictions on Condominium Bank Accounts? Here’s Our Take

According to Section 115(5) of the Condominium Act, condominium investments must either be:

  • issued or guaranteed by the government of Canada, or the government of any province of Canada; or
  • issued by an institution located in Ontario insured by the Canada Deposit Insurance Corporation (CDIC) or the Deposit Insurance Corporation of Ontario (DICO).

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