Directors’ and Officers’ Duties and Liabilities Under the CNCA and the ONCA

www.carters.ca

www.charitylaw.ca

A. INTRODUCTION

•Volunteering as a director or officer of a NFP corporation can attract civil liability

•This presentation will explain the standard of care for directors and officers of NFP corporations, an overview of the duties and liabilities of directors and officers together with the statutory protections, all under the recently proclaimed CNCA and soon to be proclaimed ONCA (collectively referred to as “NFP legislation”)

•Since the CNCA and ONCA are modeled on for-profit corporate statutes, comparisons will be made to the CBCA and OBCA in order to provide some clarity for how the NFP legislation may be applied