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C-4.1 - Savings and Credit Unions Act

Section 195
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195. Every credit union must purchase, according to market conditions, liability insurance for the benefit of an officer or a person acting at its request as a director or officer of a legal person of which the credit union is a shareholder or creditor, to cover any liability that may be incurred by such persons when acting as such, except any liability resulting from a failure to act with honesty and fairness.
1988, c. 64, s. 195.
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