Conduct of Board Members
All Directors of every corporation are fiduciaries, i.e. they have been given a position of responsibility and trust. This means they are required to satisfy the very highest legal and moral standards in their official capacities. Therefore, anyone who becomes a member of the Board of the Association must be constantly aware that he or she has assumed two broad areas of responsibility: a duty of care and a duty of loyalty.
A Directors duty of care means that he or she must be an interested, well-informed and an active participant in the business and affairs of the Association.
Directors need to:
- Be knowledgeable of the industry
- Be knowledgeable of the Vision and Mission Statements and adhere to the Articles of the Association
- Understand the procedures and operations of the Association
- Represent the needs of the Members
- Be prepared for and actively attend Board and Committee meetings
- Develop policies, programmes and long-term goals for the Association
- Perform all assigned tasks promptly and effectively
- Make timely responses to all communication and enquiries
A Directors duty of loyalty means that he or she must strive to advance the best interests of the Association and its members without regard to any personal gain or advancement. In doing so, will refrain from activity which will:
- Conflict with the interests of the Association
- Misuse their position or yield a personal gain at the expense of the Association
- Mislead or misinform any or all persons on any matters pertinent to the self storage industry or the Association or
- Undermine the reputation or effectiveness of the Association, its Board of Directors, its committees or its professional staff
The board will meet in person a minimum of 2 times annually as well as hold at least 2 meetings via conference call. Other meetings may be held if required either in person or via phone hook-up. Various sub-committees also exist which may also meet either in person or via a conference call as required.