Board of directors.
Section 133
SEC. 133. Board of directors.—The general assembly of every co-operative wholesale society shall elect a board of directors, whose number and proportionate representation between class "A" and class "B" members shall be determined from time to time by the Secretary of Commerce and Industry in the regulations or by special order in writing. Each class of members shall exercise their right to elect their share of representatives in the board of directors. The President, Secretary, Treasurer and Manager of every co-operative wholesale society shall be appointed, their salaries determined and paid by the Philippine Government in consultation with the board of directors of the co-operative wholesale society concerned and the Administrator, until such time as, but not earlier than five years after registration of, the cooperative wholesale society concerned through a resolution of its general assembly, express to the Secretary of Commerce and Industry that it can elect or appoint, as the case may be, all or any of the said persons and pay their or his salary out of its fund without jeopardizing its financial stability and thereafter the Secretary of Commerce and Industry shall withdraw all or any of the persons appointed by him and requested to be withdrawn by the co-operative wholesale society and allow the co-operative wholesale society to fill in the post according to its by-laws. The persons appointed by the Secretary of Commerce and Industry, the Administrator or his representative and the General Manager of the National Marketing Corporation or his representative so long as the National Marketing Corporation exists, shall be ex officio directors of the board and ex officio members of the Executive committee, if any, created. The President shall be the chairman of the general assembly, board and the executive committee.