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C-4.1 - Savings and Credit Unions Act

Section 448
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448. Unless otherwise prescribed in the by-laws of a confederation, the directors of a confederation shall be elected from among the directors of the federations affiliated with it.
The confederation, by by-law, shall determine the number of directors, which shall not be less than five.
In no case may the majority of the members of the board of directors consist of employees of the confederation and of a federation affiliated with it.
1988, c. 64, s. 448; 1996, c. 69, s. 141.
448. Unless otherwise prescribed in the by-laws of a confederation, the directors of a confederation shall be elected from among the directors of the federations affiliated with it.
In force: 1990-12-23
In no case may the majority of the members of the board of directors consist of employees of the confederation and of a federation affiliated with it.
1988, c. 64, s. 448.
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