C-4.1 - Savings and Credit Unions Act

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227. Every credit union not affiliated with a federation must maintain a capital base equal to at least 5 % of its total liabilities. The Inspector General may, where he deems it necessary, reduce or increase such percentage which applies to the credit union, within such reasonable time as he may prescribe.
Before exercising the powers set out in the first paragraph, the Inspector General shall notify the credit union of his intention and give it an opportunity to present observations.
1988, c. 64, s. 227; 1996, c. 69, s. 180.
227. Every credit union not affiliated with a federation must maintain a capital base equal to at least 5 % of its total liabilities. The Inspector General may, where he deems it necessary, reduce or increase such percentage which applies to the credit union, within such reasonable time as he may prescribe.
Before exercising the powers set out in the first paragraph, the Inspector General shall notify the credit union of his intention and give it an opportunity to be heard.
1988, c. 64, s. 227.