An action to express a disagreement or a difference of opinion. When recorded in the minutes of the deliberations or what is in lieu thereof, the dissent once voiced has the effect of exculpating a director from any liability that may arise from a decision of the Board of Directors.
The decisions made by the directors must be noted and recorded in the minutes. These are is an essential co-ownership document, because it ensures the written preservation of the board of directors’ deliberations, and of the results of each vote, so that any co-owner and director can refer to them over time. It also allows to verify if the meeting of the Board of Directors was conducted within the rules. Given its importance, this document must respect a certain form.
The civil liability of a director for the tasks incumbent upon him is largely unrecognised. It should be noted that failure to act with prudence, diligence, honesty and loyalty in the performance of his duties may engage his personal liability. A director must always keep in mind the interest of the co-owners' community. Thousands of Quebecers who sit on an annual basis on a Board of Directors, such as yourself perhaps, are unaware of this reality.