In this article, we look into the question whether the Dutch waterboards can still be considered resilient institutions, effectively adapting to changing circumstances as often described in literature. We argue that current waterboards resemble the CPR management form of old only in name. Their institutional nature has changed considerably, thus providing a challenge to the future of CPR water management in the Netherlands. We examine not only the implications for the institutional performance and future of the waterboard system but also discuss possible ways to regenerate the system. With respect to the latter (changes in), the system of governance and community base character of waterboards are examined.