“The enabling law and other relevant regulations are silent about whether the members of the HREIT Board can be re-elected, which leaves open the possibility of unlimited tenure.  

The SCA notes that the HREIT informed that, in practice, four of the current members of the Board were reappointed for a second term. In order to promote institutional independence, the SCA encourages the term of office to be limited to one re-appointment. The SCA recommends that the HREIT advocates for amendments to its enabling law to provide for such a limit on the term of office.”