(1) Subject to section 70 and subject to the regulations and the by-laws—
(a) the election of directors must take place annually at the annual general meeting;
(b) the directors hold office until the conclusion of the meeting at which their successors are elected, and are eligible for re-election;
(c) where the number of nominees exceeds the number of directors to be elected, the election of directors must be by secret ballot;
(d) every member has the right to vote for the number of directors to be elected and any ballot that contains the names of more than the number to be elected is void;
(e) where there are vacancies on the board but the remaining directors constitute a quorum, the board may appoint a member to fill any such vacancy;
(f) where there is a vacancy on the board and there is not a quorum of directors, the remaining directors shall call a special general meeting for the purpose of electing members to fill any vacancy.
(2) Where an election of directors required by this Act, the regulations or the by-laws does not take place at the proper time, the directors then in office shall continue in office until their successors are elected.
(3) Subject to the by-laws of a society, not more than 1/3 of the directors may be employees of a society.
(4) Unless a reasonable excuse is received by the meeting, a person shall not be elected a director if he or she is not present at the meeting at which the election is being conducted.