Director Arrears - Stand-Alone By-law (Ontario)
Agency for Co-operative Housing
A director is in arrears when they owe their co-op money. Simple. Easy to understand.
In the old days (B.A.: Before the Agency), many co-ops saw things differently. Back then, a director who had signed a repayment agreement might not count as being in arrears. If they were keeping up with their
92% of Agency clients have a Strengthening or Stable risk trend. Proof of many good decisions.