C-4.1 - Savings and Credit Unions Act

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336. No federation may redeem the qualifying shares issued by it except where a credit union withdraws or is expelled from the federation or where the credit union or federation is wound up, becomes insolvent or is dissolved.
No federation may pay dividends where the payment of such dividends would result in reducing its capital base to a level lower than the level it is required to maintain under this Act.
1988, c. 64, s. 336.