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C-4.1 - Savings and Credit Unions Act
Section 341
Disposition versions
341. Every decision of a federation concerning the affiliation or expulsion of a credit union shall be transmitted to the credit union by priority mail and a copy shall be sent to the Inspector General.
The decision of a federation to expel a credit union shall not become effective
(1) until another federation has undertaken to admit the credit union as a member or until the new federation the incorporation of which the credit union has applied for is incorporated and the credit union has received articles of amendment to be affiliated therewith;
(2) until the credit union has amalgamated with a credit union affiliated with a federation;
(3) until the credit union is dissolved;
(4) until the credit union is exempted from compliance with section 11 by the Minister.
341. Every decision of a federation concerning the affiliation or expulsion of a credit union shall be transmitted to the credit union by registered or certified mail and a copy shall be sent to the Inspector General.
The decision of a federation to expel a credit union shall not become effective
(1) until another federation has undertaken to admit the credit union as a member or until the new federation the incorporation of which the credit union has applied for is incorporated and the credit union has received articles of amendment to be affiliated therewith;
(2) until the credit union has amalgamated with a credit union affiliated with a federation;
(3) until the credit union is dissolved;
(4) until the credit union is exempted from compliance with section 11 by the Minister.
