The Waterloo Undergraduate Student Association is constituted as a corporation without share capital under the Ontario Corporations Act, R.S.O. 1990. As with most corporations, the student government maintains a Board of Directors which primarily oversees its financial, legal, human resources, contractual, and strategic affairs. In addition to Federal laws, Provincial laws, and the By-laws and Policies of the Corporation, the Board of Directors is also bound by the Board of Directors Procedures and precedents, which regulate affairs of the corporation with regard to such matters, from authorization of expenditures and financial controls, to risk management, to rules for employment. Review of Board procedures occurs annually, led by the Chair of the Board and President, and is the responsibility of each member of the Board of Directors.