GLENIFFER LAKE RESORT BOARD MEMBERS WHAT YOU NEED TO KNOW Seven (7) Condominium Boards represent their respective Condo Corporations (CC’s) who are governed by the Condominium Property ACT of Alberta (CPA) There are approx. 49 CC-Board Members AND One (1) Board represents a private corporation who is the RESORT MANAGER i.e. Gleniffer Lake Resort Ltd. (GLRL). GLRL is governed by the Business Corporations Act of Alberta (BCA); the Shareholders are the CC’s There are 7 GLRL Directors plus 7 GLRL / Condo Board Representatives (REPS) The latter of which attend GLRL Board meetings as ‘Guests’ WHEN MAKING REFERENCE TO A “BOARD”, ALWAYS BE CLEAR WHICH BOARD YOU ARE SPEAKING ABOUT AND UNDERSTAND THEY ARE LEGALLY BOUND TO DIFFERENT LEGISLATION (ACTS)
“Every member of a board, in exercising the powers and performing the duties of the office of member of the board, shall * Act honestly and in good faith with a view to the best interest of the corporation * Exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances”