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Canadian Payments Act

Version of section 9.1 from 2015-06-04 to 2021-04-01:

Marginal note:Term of office — elected directors

  •  (1) The elected directors hold office for a term of three years and are eligible to be elected for only one further term.

  • Marginal note:Removal of elected directors

    (2) If a resolution passed by a two-thirds majority of the members who are present at a special meeting of members called to consider the resolution provides for the recall of an elected director, then, despite subsection (1), that director ceases to be a director of the Association at the time notice of the resolution is given to the director or at any other time that may be fixed by by-law.

  • Marginal note:Remuneration

    (3) A director referred to in paragraph 8(1)(d) shall be paid by the Association the remuneration that is fixed by by-law.

  • 2014, c. 39, s. 337

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