Qualification of directors
174 Qualification of directors
(1) A person is not qualified to be a director of a co-operative unless he or she is:
(a) a person who is an active member of the co-operative or a representative of a corporation that is an active member of the co-operative (a member director); or
(b) a person who is qualified as provided by the rules of the co‑operative (a non‑member director) and who is not an active member of the co-operative.
Note
A non-member director either is not a member of the co-operative or is an inactive member of the co-operative.
The majority of directors must be member directors.
(3) Subsection (2) does not prevent the rules of a co-operative requiring that a greater number of directors than a majority must be member directors.
(4) An employee of a co-operative is not precluded from being a member director or non-member director of the co-operative if he or she is otherwise qualified.
This Act’s bill:Explanatory statement
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