www.carters.ca
www.charitylaw.ca
6.Directors
and Officers – Powers, Duties and Defence
•Similar rules
in CNCA and ONCA that state “subject to the
Act, the directors shall manage or supervise the management of the activities and affairs of the corporation”
•Every director
and officer has a duty to comply with the CNCA/ONCA, regulations, articles and by-laws
•Directors may borrow money on the
credit of the corporation without members’ authorization, unless articles
or by-laws provide otherwise
•Directors may view certain corporate records that the corporation
is required to prepare and maintain (e.g. meeting minutes, accounting
records, members’ resolutions, etc.) and receive free extracts of
them
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