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Are condo board directors required to follow a code of ethics?

The Condo Act does not say that directors must do this, but condo corporations can adopt by-laws that require directors to. Part of the by-law may require that directors put their signature down to agree to abide by the code of ethics. Condo corporations that adopt a specific code of ethics usually specify how board members will behave in regards to meetings, confidentially and conduct. The Condo Act also says that directors must make decisions in the best interest of owners and that they must exercise a standard of care. This basically means that they must act honestly, in good faith, and exercise the care and diligence in carrying out their duties that any prudent person would.

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