Legal Duties and Liabilities of Directors and Officers of Charities and Not-for-Profits and Risk Management

www.carters.ca

www.charitylaw.ca

•Utilizing due diligence checklists

–Legal risk management checklist

–Insurance/risk management checklist

–Crisis management checklist

•Utilizing outside professionals

–Relying on professional advisors like accountants and lawyers provides evidence of due diligence and reduces exposure to liability

–Delegation of investment decision making to investment manager requires agency agreement and investment policy under Trustee Act (Ontario)