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S-31.1 - Business Corporations Act

Section 119
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119. Subject to this division, the directors are bound by the same obligations as are imposed by the Civil Code on any director of a legal person.
Consequently, in the exercise of their functions, the directors are duty-bound toward the corporation to act with prudence and diligence, honesty and loyalty and in the interest of the corporation.
In their capacity as mandataries of the corporation, the officers are bound, among other things, by the same obligations as are imposed on the directors under the second paragraph.
2009, c. 52, s. 119.
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