Definition : Code of Professional Conduct

Code that sets out the rules of conduct and duties of a person regarding his or her profession and indicates, in particular, the conduct that is derogatory to the honour, dignity and integrity of such a profession. It may also determine activities or situations incompatible with the office held by the professionals and the obligations regarding the disclosure of their interests.

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The manager usually plays a key role in a co-ownership. Similarly to the board of directors, his duty is to preserve the immovable of which he is responsible. His appointment eases the director’s tasks, without the manager being substituted in their function. The board members will thus be better able to exercise their decision-making powers. That being said, managing a co-ownership is not always an easy task. It is in the best interest of directors to ensure that the manager assumes his mission with dignity, loyalty, diligence and honesty. To this end, the board of directors would be well advised to implement a code of conduct in which professional ethics are addressed, namely, without limitation, compliance with laws and regulations, transparency, confidentiality, conflicts of interest and, of course, discipline.
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