It’s a new Quebec law requiring condo associations to carry cash reserves to pay for unexpected and sudden expenses.
The law is set up to ensure that in the event of damage to a condo building, the condo board has enough cash on hand to pay its deductible. This applies to property damage outside of personal units. For example: Water damage that destroys the building’s roof.
There’s a downside to law 141 though: Condo boards now have large sums of money sitting unused and, due to inflation, decreasing in value every year.