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YCC8 Board of Directors
The affairs of the York Condominium Corporation No. 8 are managed by a Board of Directors, comprised of seven (7) officers that are elected by all owners not in arrears of the corporation. They are elected at the AGM and serve a three years term. Executive officers are selected by the Board to assume responsibility for different aspects of the organization and affairs of the corporation.
1) Every director and every officer of a corporation in exercising the powers and discharging the duties of office shall, (a) act honestly and in good faith; and (b) exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances. 2) Vacancy - If a vacancy arises in the board, the remaining directors may exercise all the powers of the board as long as a quorum of the board remains in office. The majority of the remaining members of board may appoint any person qualified to be a member of the board to fill the vacancy until the next annual general meeting. |