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Difference between revisions of "Non-Profit Directors (Societies Act FAQs)"
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Non-Profit Directors (Societies Act FAQs) (view source)
Revision as of 17:58, 13 May 2021
, 17:58, 13 May 2021→What can directors do to protect themselves from liability?
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===What can directors do to protect themselves from liability?=== | ===What can directors do to protect themselves from liability?=== | ||
The best protection is to proactively learn about directors’ duties and to always act honestly in the best interests of the non-profit using the best available information. Directors should not vote for or consent to resolutions when they are unsure about the consequences or legality of that resolution. In addition, s. 66 of the ''Societies Act'' permits a non-profit to purchase liability insurance, which can cover directors and/or senior managers of the non-profit. Persons considering becoming a director of a non-profit ought to enquire about the sort of insurance the non-profit carries, including any directors and officers policies. | The best protection is to proactively learn about directors’ duties and to always act honestly in the best interests of the non-profit using the best available information. Directors should not vote for or consent to resolutions when they are unsure about the consequences or legality of that resolution. In addition, [https://www.bclaws.gov.bc.ca/civix/document/id/lc/statreg/15018_01#section66 s. 66] of the ''Societies Act'' permits a non-profit to purchase liability insurance, which can cover directors and/or senior managers of the non-profit. Persons considering becoming a director of a non-profit ought to enquire about the sort of insurance the non-profit carries, including any directors and officers policies. | ||
==Paying Directors (Remuneration)== | ==Paying Directors (Remuneration)== | ||
