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Moral, legal or contractual obligation for a director to act with careful care (in a prudent and reasonable manner) in the performance of his obligations, demonstrating good faith and in the best interest of the syndicate and co-owners. Article 322 of the Civil Code of Quebec requires the director of a legal person (e.g. a syndicate of co-owners) to exercise a duty of diligence.
18/11/2024
A study of the contingency fund was recently conducted by a professional. This analysis highlighted two possible scenarios: 1. Scenario 1 (status quo): This scenario, which is not recommended by the professional, would maintain the current contributions but would result in a deficit within approximately fifteen years, requiring the use…...
23/07/2024
The law does not establish an exhaustive list of the duties and obligations that the members of the board of directors must assume. It is the declaration of co-ownership (constituting act of the co-ownership) and certain articles of the Civil Code of Québec which, for the most part, determine them.…...
23/07/2024
The duties and obligations of directors are at the heart of the good governance of a co-ownership. As part of their duties, directors are required to ensure that the syndicate of co-owners complies with the laws. This is why, in addition to the duties of diligence and loyalty of directors…...
23/07/2024
The juridical personality of the syndicate is distinct from the one of the co-owners and directors. His acts are binding only on himself, besides for the exceptions provided by law. The faults committed by the syndicate have consequences only on its own civil liability and not on the directors. Under these conditions,…...
23/07/2024
The director of a co-ownership is called to play a key role in the sound management of the co-ownership and preservation of co-owners' assets. To strengthen and maintain the relationship of trust with them, every director must be fair, honest and loyal toward the Syndicate and the co-owners. The director must also respect…...
29/06/2024
Choosing a contractor is a crucial step that should not be taken lightly! Indeed, renovation and construction work constitute a significant budget item, and it is essential that the board of directors takes measures to choose a reliable contractor, ensuring transparency and competitiveness for co-owners. A well-structured and rigorous process…...