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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.
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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. |