Set of moral principles underlining the most appropriate behavior of a director.
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.
Être administrateur de copropriété n'est certes pas toujours facile. Cette charge est lourde de responsabilités et comporte des hauts et des bas. Mais l'important, c'est qu'à la fin de son mandat, tout administrateur ait le sentiment du devoir accompli.
The presence of a Board of Directors is mandatory in a co-ownership. It is the executive body of the syndicate and its legal representative. Its members act as the mandataries of the syndicate.
When a co-ownership is newly constituted, the declaration of co-ownership generally provides for the appointment of a interim director, who exercises the functions of the Board of Directors until the Meeting of co-owners appoints a new board of directors. Consequently, the obligations related to administration, listed below, apply to this director.
Usually, it is the developer who designates him, in accordance with a provision in the declaration of co-ownership (By-laws of the Immovable). Often he appoints one of his representatives to act as the interim director of the syndicate.
Most co-ownership directors perform their function as volunteers. But, contrary to popular belief, they can be paid. Their remuneration takes various forms: salary, honorariums and attendance fees, just to name a few. This financial compensation, a part of the administrative expenses of the co-ownership, may also include the reimbursement of some expenses incurred by a director.
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.