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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 20:19, 20 May 2021
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===What should a director do if they have a conflict of interest?=== | ===What should a director do if they have a conflict of interest?=== | ||
S. 56 of the ''Societies Act'' provides guidance to non-profits on how to address conflicts of interest. A director with a conflict of interest ''must'': | [https://www.bclaws.gov.bc.ca/civix/document/id/lc/statreg/15018_01#section56 S. 56] of the ''Societies Act'' provides guidance to non-profits on how to address conflicts of interest. A director with a conflict of interest ''must'': | ||
*Immediately disclose they have a conflict of interest and the nature and extent of the conflict; | *Immediately disclose they have a conflict of interest and the nature and extent of the conflict; | ||
**If outside a meeting, disclosure must be in writing (e.g. email) to all other directors. | **If outside a meeting, disclosure must be in writing (e.g. email) to all other directors. | ||