Section 108: Term of office and remuneration of conservator

108. Term of office and remuneration of conservator (1) The term of office of the conservator shall continue, unless replaced by a successor, until such time as the Commission finds that— (a) the insurer is rehabilitated or reorganised, so that it may be returned to management or a new management under such conditions as are necessary to prevent recurrence of the conditions that gave rise to the conservatorship; or (b) the insurer is in such condition that its continuance in business would not involve probable loss to its policy holders and other creditors. (2) The remuneration of the conservator and the indemnification of the conservator from liability to third persons on account of all actions taken in good faith shall be borne by the insurer. (3) On termination of the conservatorship, every director of the insurer shall resume his office except where a director is found by the Commission not to be fit and proper to resume his directorship.