This policy applies to all Board Members and Staff, which will be collectively referred to this policy as "Board Members".
This Code is not exhaustive of all of a Board member's ethical duties to the Co-operative. Its purpose is to set out a Board members' obligation in a few particular areas of conduct.
A Board member's relationship to the Co-operative is fiduciary in nature. As such they are obligated to;
The following is an extract from By-Law No. xx, Article xx, Section xx, regarding board proceedings;
A Board member shall hold in strict confidence all information concerning the business and affairs of the Co-operative acquired in the course of her duties as a Board member and should not divulge any such information unless expressly or impliedly authorized by the Board or ByLaw to do so. Without limiting the generality of the foregoing, Board members are especially reminded not to discuss:
In circumstances where third parties provide the Co-operative with a members written authorization to release information, Board members should not release that information to the requesting parties unless the authorization is specific about which particular information it requires. In no circumstances should the Co-operative release information to a staff member from a family benefits office or a welfare office without the express written permission of the member.
The Board of Directors or an Office of the Co-operative may make reasonable inquiries, financial or otherwise, as to whether an applicant or member is suitable to become, or continue as a member or an occupant of Co-operative housing, which inquiries shall be kept confidential.
Except as provided in the ByLaws and the Co-operative Corporations Act, Board members have no individual authority except as members of the entire Board.
The Board Members should not act, or continue to act in a matter where there is, or is likely to be, a conflict of interest.
A conflicting interest is one which would be likely to affect adversely the board member's judgement on behalf of, or loyalty to the Co-operative, or which the Board might be prompted to prefer to his personal interests or another's interests.
A Board member who may be in a position, or whose family may be in a position to derive any direct or indirect financial benefit from any financial transactions with the sponsor, must disclose this situation and withdraw from discussions and the decision making process.
A Board member must have an arm's length relationship with all the Board's financially legal transactions. Board members must not be in a position of conflict of interest and must not be in a position to receive any preferential consideration, financial benefit or other rewards. However the Board members, and, if they live in the Co-operative, can be paid on a part-time basis for any routine maintenance, administrative, or operational work they do for the Co-op.
A list will be maintained in the administration office of all the members interested in occasional paid work. When work is available the office staff will offer the work to the next suitable person(s) on the list. The decisions on who is offered the work will be an office function and will only be referred to the Board for general policy decisions.
Thus the Board and their families, potential or past Board members, may take a place on the office list and be offered work as it becomes available.
The Board will, from time to time, determine what comprises "occasional paid work". This will normally include maintenance, painting and grounds work and occasional; office help and relief but not committee duties.