(1) An examiner may resign or, on cause shown, be removed by the Court.

(2) If for any reason a vacancy occurs in the office of examiner, the Court, on an application made by the Bank or by the person on whose petition the examiner was appointed, may by order fill the vacancy.

(3) An examiner shall be described by the style of "the examiner" of the particular credit union in respect of which he is appointed and not by his individual name.

(4) The acts of an examiner shall be valid notwithstanding any defects that may afterwards be discovered in his appointment or qualification.

(5) An examiner shall be personally liable on any contract entered into by him in the performance of his functions, whether the contract is entered into by him in the name of the credit union or in his own name as examiner or otherwise, unless the contract provides that he is not to be personally liable on the contract, and he shall be entitled in respect of that liability to indemnity out of the assets of the credit union.