C-4 - Savings and Credit Unions Act

Full text
133. The by-laws of a federation shall determine how its board of directors shall be constituted, the number of the directors, which may be more than fifteen and be divided into districts or groups, how they are to be elected, at the annual meeting or at district or group meetings, and the quorum of the board of directors.
Unless otherwise provided in the by-laws, the directors of a federation shall be chosen from among the directors of the affiliated unions or federations.
The president of a federation may be paid for his services. If so it must be by means of a fixed remuneration the amount of which is determined for a given period by the board of directors.
R. S. 1964, c. 293, s. 106.