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C-4 - Savings and Credit Unions Act

Section 48
Disposition versions

Full text
48. The term of office of the directors shall be three years.
Nevertheless, of those elected at the organization meeting, one-third to the nearest whole number shall remain in office for one year only, and another such third for two years only.
If those who are to hold office for one year or two years only have not been chosen when they were elected, they shall be so chosen by lot at the meeting at which they are to be replaced.
R. S. 1964, c. 293, s. 47.
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