-
The Act says that there has to be a board, it just doesn’t specify how many people need to be on the board.
If the bylaws have a minimum number of board members listed then you have to meet that requirement otherwise any unit owner of the corporation could petition the court to appoint an administrator of the corporation (which is expensive).
It’s ideal to have more board members than less because more minds tackling issues will hopefully lead to better outcomes. Having more board members also helps spread around the liability associated with being a board member of a corporation.
