Do I have to give up being a director in a non-profit?

November 2nd, 2009 by Questions

With a job loss and some mounting credit card debt I am considering whether I may have to declare personal bankruptcy.
I understand if I do declare bankruptcy I cannot be a director of a company. I am on the board of directors of a community-based not-for-profit group. Would I have to resign from this board?
Thanks. Great site. Very informative.

Posted from: British Columbia

Questions

One Response to “Do I have to give up being a director in a non-profit?”



, A licensed trustee said:

Unfortunately, you will have to step down while you remain an undischarged bankrupt. The Business Corporations Act doesn’t differentiate between profit and not-for-profit corps in this area.

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