Persons disqualified to act Sample Clauses

Persons disqualified to act as Directors‌‌ No person may become a Director or continue to be a Director if that person or Director: [a] is under the age of 18 years; [b] is found by a court, in Canada or elsewhere, to be incapable of managing their own affairs; [c] is an undischarged bankrupt; [d] is convicted of an offence in connection with the promotion, formation, or management of a corporation or of an offence involving fraud;‌ [e] is indebted to the Co-op for any amount other than: [1] current month’s Housing Charges, or [2] an amount other than Housing Charges and payment is being made in accordance with a plan approved by the Directors; [f] has a term of office that has expired in accordance with the Act or these Rules; [g] is removed in accordance with Rule 18.11; [h] dies; [i] resigns in writing; [j] ceases to live in the Unit on a full time basis as their principal residence, excepting a person who is not a member; [k] is absent from three consecutive regular meetings of the Directors without the consent of the Directors; [l] resides with a person who is serving as a Director at the same time, in which case the office of the Director last elected or appointed will be vacated; [m] has entered into a contract directly with the Co-op as an employee or contractor, unless the Director complies with the provisions of the Act respecting disclosure of conflict of interest; [n] is a shareholder, director, or employee of a corporate entity with which the Co-op enters into a contract, unless the Director complies with the provisions of the Act respecting disclosure of conflict of interest; [o] resides with or is related by blood or marriage to a person who accepts a position as an employee or contractor of the Co-op; or [p] has not completed a course of director training, acceptable to the directors, within the year prior to the election for directors, or within the six months following.
Sample 1
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