The act by which a director is removed from office.
November 28, 2017 - The possible destitution of a director or of the entire Board of directors is often brought up when co-owners become dissatisfied with one of their decisions , when a faction intends to "take control" of a syndicate of co-owners and when expensive work is undertaken . This is a serious matter, both in small and large co-ownerships.
When and how to convene such a meeting?
The By-laws of the immovable generally provide all the director’s office specific provisions, including the duration of his term of office. If the By-laws are silent thereon, the legal term of one year will apply, in accordance with section 339 of the Civil Code of Québec, which specifies that “At the expiry of that period, their term continues unless it is revokedˮ. A director usually remains in office until the next annual general meeting of the co-owners, who will proceed to a re-election.
The director of a co-ownership is called to play a key role in the sound management of the co-ownership and preservation of the patrimony of the co-owners. To strengthen and maintain the relationship of trust with them, every director must be fair, honest and loyal toward the Syndicate and the co-wners. The director must also respect ethical standards and the Code of conduct stipulated by the Civil Code of Quebec and the declaration of coownership.
Question: We are five co-owners in the immovable. Our director behaves like a dictator. Is there a way to remedy this situation?
Login / Register to read this article