The Annual General Meeting held on October 10, 2013, has once again raised questions regarding the need for each director of the Corporation to provide a signed CODE OF ETHICS disclosure statement in the format referenced below.
These signed statements from each director of the Corporation, should be presented at the next board of directors meeting, with acknowledgment of their receipt recorded in the minutes. They must also be made available for viewing by unit owners upon request. This document includes suggested provisions provided by the Canadian Condominium Institute and is commonly used by many condominium associations across Canada.
Provision of this statement by board members will assist in addressing the questions and concerns that unit owners may have regarding the conduct of directors including conflict of interest issues. It is very unusual and very questionable for directors of any Corporation to refuse to provide this disclosure. Refusal to do so, will of course only validate the reason for the questions and concerns of unit owners. Should this be the case, then it is obviously necessary for a director to, as an alternative, submit a written notice of resignation. This required disclosure document is referenced below.