The new BC Societies Act (the “Act”) contains express provisions on the qualification and disqualification of directors. These provisions should be understood by the membership, potential and current directors, and those working with not-for-profit organizations.
Month: March 2016
Directors: Roles and Responsibilities Clarified
Under the BC Societies Act (the “Act”), directors of a society have clarified roles and responsibilities. Directors must manage and supervise the activities and internal affairs of the society, subject to the Act, the regulations, and the bylaws. Like most modern corporate statutes, the functions and duties of directors are now set out in the Act.
Get ready for the new BC Societies Act
The new Societies Act (the “New Act”) will govern all new and pre-existing societies in BC as of November 28, 2016. The New Act merges modern business corporations laws with special considerations for the charity and non-profit sector. Overall, the New Act takes a common-sense approach to bringing BC’s societies laws into the new millennium.