Duties and Responsibilities of Tarion’s Directors. The fiduciary duty of each Director is to act in the best interests of the Corporation at all times. Each Director shall act in accordance with the Director’s fiduciary duty to Tarion. In carrying out such duty, each Director has a responsibility to understand and balance appropriately the legitimate interests of a number of stakeholders, including, in no particular order and without limitation: purchasers of new homes in the Province of Ontario; new home vendors and builders; the Government of Ontario; and employees of the Corporation. Director shall neither act in self-interest nor in the interests of any individual Tarion stakeholders. Directors are not “representative of any stakeholder, nor is their duty or obligation in any way to be beholden to any stakeholder.” The fiduciary duty of each Director is to the Corporation as a whole, which is to act with the view to Xxxxxx’s best interests. From time to time, a duly taken decision made by the Board may be believed by a particular Director or Directors to be adverse to one or more stakeholders of Tarion. Such a belief may be honest and reasonable in the view of that Director. Nonetheless, regardless of their personal opinion or individual vote, each Director must support and not undermine the decisions of the Board at all times.
