First Nations Fiscal Management Act
Marginal note:Term of office
63 (1) Directors shall hold office on a part-time basis for a term of one year.
Marginal note:Additional terms
(2) A director is eligible to be re-elected for a second or subsequent term of office.
Marginal note:Ceasing to be director
(3) A person ceases to be a director when
(a) the person ceases to hold office as a chief or councillor of a first nation that is a borrowing member or investing member;
(b) the person’s designation as a representative of a borrowing member or investing member is revoked by a resolution of the council of that first nation; or
(c) the person is removed from office before the expiry of the term of the appointment by a special resolution of the board of directors.
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