Removal of a Board Member: 14/06/23

The circumstances under which a member of the board ceases to hold office are outlined below.

1. Bankruptcy: If a board member becomes a bankrupt as defined in the Bankruptcy and Insolvency Act (Canada), they cease to be a member of the board.
2. Arrears in Payment: If a board member is more than 60 days behind in payment of any required contributions as an owner, they cease to be a member of the board.
3. Default of Judgment: If a board member is more than 60 days in default of a court judgment for money owed to the corporation, they cease to be a member of the board.
4. Represented Adult: If a board member is or becomes a represented adult as defined in the Adult Guardianship and Trusteeship Act, they cease to be a member of the board.
5. Conviction of Indictable Offense: If a board member is convicted of an indictable offense for which they could be imprisoned for a minimum of 2 years, they cease to be a member of the board.
6. Resignation: If a board member resigns their office by serving written notice to the corporation, they cease to be a member of the board.
7. Removal by Ordinary Resolution: The corporation has the authority to remove a member of the board before their term expires through an ordinary resolution. In such a case, another individual can be appointed to hold that office for the remaining term.

It’s important to note that these provisions may vary based on the jurisdiction and the specific governing documents of the corporation. It’s advisable to consult the relevant legal documents and regulations applicable to your situation for accurate and up-to-date information.