Definition : Bank account

Account opened by a financial institution in the name of the syndicate of co-owners to deposit in particular the sums of money relating to the contribution of the co-owners to the common expenses and to allow their entries and exits to be recorded. There are different types of accounts depending on the expectations of the syndicate (e.g. current account or savings account).

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The presence of a Board of Directors is mandatory in a co-ownership. It is the executive body of the syndicate and its legal representative. Its members act as the mandataries of the syndicate. When a co-ownership is newly constituted, the declaration of co-ownership generally provides for the appointment of a interim director, who exercises the functions of the Board of Directors until the Meeting of co-owners appoints a new board of directors. Consequently, the obligations related to administration, listed below, apply to this director.  Its appointment Usually, it is the developer who designates him, in accordance with a provision in the declaration of co-ownership (By-laws of the Immovable). Often he appoints one of his  representatives to act as the interim director of the syndicate.
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