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C-4.1 - Savings and Credit Unions Act

Section 119
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119. The term of office of the members of the board of directors and of the board of audit and ethics is three years.
The credit union must determine by by-law a mode of rotation so that one-third of the members of each of those organs, to the nearest whole number, are replaced each year.
The credit union may, for the purposes of this section, shorten the term of office of elected members.
1988, c. 64, s. 119; 1996, c. 69, s. 32.
119. The term of office of the members of the board of directors, of the credit committee and of the board of supervision is three years.
The credit union must determine by by-law a mode of rotation so that one-third of the members of each of those organs, to the nearest whole number, are replaced each year.
The credit union may, for the purposes of this section, shorten the term of office of the members elected at the organization meeting or elected following an increase in the number of members of those organs.
1988, c. 64, s. 119.
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