What is the term for the constitution-like document that outlines a corporation's governance?

Prepare for the Ontario Condominium Management License Test with flashcards and multiple choice questions, each equipped with hints and explanations. Get ready for success!

The term that accurately refers to the constitution-like document outlining a corporation's governance is the Declaration. In the context of condominiums in Ontario, the Declaration is crucial as it serves as the foundational document that sets the framework for how the condominium is managed. It typically includes vital information such as the property's legal description, the nature of the condominium (whether it's a corporation or a type of community), and the specifics regarding the rights and responsibilities of unit owners.

The Declaration also establishes the governance structure, detailing aspects such as voting rights, use of common elements, and other governance matters. This document is filed with the land registry office, and it binds all the owners and subsequent owners of the units within the condominium corporation.

Other terms mentioned do play roles in the governance and management of a condominium. Articles of Incorporation, for instance, generally pertain to the establishment of a corporation and are essential but are not as comprehensive in governance as the Declaration. Bylaws govern the day-to-day operations and conduct within the corporation but do not encapsulate the foundational governance structure to the extent the Declaration does. Policies may address operational details or specific procedures but do not have the constitutional weight of a Declaration. Thus, the Declaration is the document that best captures the essence

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