The board of directors is entrusted to manage SLR's day-to-day affairs and operations, and to ensure its financial well-being and integrity.

The election of SLR directors takes place at the Annual General Meeting each spring. All members are eligible for election, although at least one year of SLR membership and participation is preferred. The term of directors is usually two years, after which they may stand for re-election. Directors may serve a maximum of six consecutive years, after which they must stand down at least one year before again offering their services by re-election. Term expiry dates are staggered to maintain board continuity year to year.

Regular board meetings are held on the second Friday of each month, except July.