S-39 - Stock-breeding Syndicates Act

Section 17 Disposition versions

1977-12-31

17. The affairs of the syndicate shall be managed by a board of five directors.

Three shall constitute a quorum.

The directors shall hold office during the year immediately following the annual meeting and until the election of their successors. They shall be eligible for re-election.

They shall hold their meetings according to adjournment or to a notice given to them in writing by order of the president, or, in his absence, of the vice-president or of two members of the boards of directors, three days at least before the day fixed for the holding of such meetings. Such notice may be given by registered or certified letter addressed to each director and deposited in the post-office of the locality where the place of business of the syndicate is situated, at least three days before the meeting.

The directors may, at any meeting, pass by-laws for the government of the syndicate, and amend or repeal the same, provided such by-laws do not conflict with those adopted at the general meetings of the shareholders of the syndicate.

R. S. 1964, c. 115, s. 17; 1975, c. 83, s. 84.