Although LPVR is a non-hierarchical, volunteer run organization and it's board of directors does not hold any power over the collective, the government of Quebec, requires the organization to have a board of directors
The board is elected at the Annual General Assembly by present members and volunteers of LPVR.
Directors and officers have a duty to exercise due diligence in overseeing the management of the organization that they serve. They are required to act in good faith and in the best interest of the organization. Claims or potential claims must be promptly reported.
Directors and officers have a duty to exercise due diligence in overseeing the management of the organization that they serve. This involves 3 basic duties:
1. Duty of Diligence (Duty of Care): Act reasonably, in good faith and in the organization’s best interest.
2. Duty of Loyalty: Place the interest of the organization before your own.
3. Duty of Obedience: Act within the scope of applicable bylaws.
Le Petit Vélo Rouge is currently insured by Lloyds's of London Insurance, acquired thought the broker Univesta. The period of insurance is from February 18th, 2016 to January 1st, 2017.
The current insurance policy was drafted in consultation with Concordia's Legal Team to meet their conditions as the Lessor of the shop space. Appendix 1 of the coverage contract was included for this purpose and should be included in future insurance contracts.
For more details on LPVR's insurance policy see the Insurance folder in the Drive and/or the filling cabinet.
LPVR is currently insured to include Directos' and Officers' Liability Insurance. This includes 'any claim first made against him[/her/they] during the policy period, provided the claim is reported to the Insurer while the policy is in force.'
'Administrative duty means any act, duty, prerogative or decision pertaining to persons elected members of the Entity's Board or legally appointed to administrative duties or specific committees, commissions, administrative assemblies or boards, as determined by law under the powers of the Board, while acting in the discharge of their duties in connection with the Entity's general management, including but not limited to finance matters, management of funds, income collection, expense allocation, granting or approving contracts, bids, agreements and projects on behalf of the Entity.' - form OSB15000, of insurance policy
It is normal that trying to understand or deal with legal matters can be confusing and/or a source of stress. For a better understand of how not-for-profits interact with the law the following readings are recommended: