Part 4 — Directors and Officers of Cooperatives Division 1 Number, Qualifications and Functions of Directors
55 First directors
identified in the notice of directors provided with the application
for incorporation are members and directors and have all the
powers and duties of directors until the end of the first meeting of
members.
(2) At the first meeting of members after a cooperative comes into
existence, the directors must be elected or appointed in accordance
with this Act, the articles, the bylaws and any unanimous
agreement.