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OWNERS CORPORATIONS ACT 2006 - SECT 27 Bank account

OWNERS CORPORATIONS ACT 2006 - SECT 27

Bank account

    (1)     An owners corporation may establish and operate bank accounts.

    (2)     Each bank account must be established in the name of the owners corporation.

    (3)     All fees levied by an owners corporation under this Part must be paid into a bank account of the owners corporation or of the manager of the owners corporation.