(2) The Lieutenant-Governor in Council shall designate 1 member to be chairperson.

(3) The members of the corporation, with the exception of the chairperson, shall be appointed for 1 year and are eligible for reappointment.

(4) A member of the board holds office during good behaviour and may be removed by the Lieutenant-Governor in Council.

(5) Where a vacancy occurs in the corporation by reason of the death, resignation, removal or permanently incapacitating illness of a member, the Lieutenant-Governor in Council may appoint a person to replace the member.

(6) Nothing in this Act shall be construed to prevent the Lieutenant-Governor in Council from appointing a member of the corporation to be a member of another corporation, board, committee or other governmental organization.

(7) A majority of the members of the corporation constitute a quorum.

(2) The corporation may purchase and sell, lease, alienate, dispose of or convert its property or assets and acquire assets in their place for its purposes.

(3) The corporation may borrow and lend money for its purpose.

(4) The corporation may under its name contract and treat, sue and be sued in all courts of law and places in the province.

(5) The corporation may establish abattoirs, cold storage plants, warehouses, packing and processing plants and other buildings and establishments of every kind necessary and suitable for the handling, preparation, processing and storage of farm products of every kind both animal and vegetable.

(6) The corporation may make advances of livestock to farmers and livestock keepers, either for cash or on credit.

(7) The corporation may employ instructors to instruct farmers and livestock keepers.

(8) The corporation may purchase, store, process, pack and sell farm products of every kind.

(9) The corporation may handle, store and sell or advance on credit animal feeding stuffs of every kind.

(10) The corporation may enter into contracts with private organizations whether of farmers or otherwise to operate and manage an abattoir, cold storage plant, warehouse, processing plant or other facility for the handling, processing, storage and marketing of farm products.

(2) The accounts and reports of the corporation together with the report of the auditor general shall be laid before the Legislature within 15 days after they are submitted to the minister if the Legislature is then sitting, and, if not, then within 15 days after the commencement of the next session.

(2) The Lieutenant-Governor in Council may in the case of a loan specify for what purposes and upon what general conditions it may be used by the corporation.