C-4.1 - Savings and Credit Unions Act

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450. Every confederation shall, in view of its operations, establish and maintain sufficient capital stock as well as such reserves and liquid assets as are adequate to meet its requirements.
The Inspector General may give written instructions to a confederation as to the adequacy of its capital stock, reserves and liquid assets.
He shall, before exercising that power, inform the confederation of his intention and give it an opportunity to present observations.
A confederation may adopt standards applicable to the federations affiliated with it and to the credit unions affiliated with the federations concerning the adequacy of their liquid assets.
A confederation may also adopt standards applicable to the federations affiliated with it concerning the adequacy of their capital stock and general reserve.
1988, c. 64, s. 450; 1996, c. 69, s. 144, s. 180.
450. Every confederation shall, in view of its operations, establish and maintain sufficient capital stock as well as such reserves and liquid assets as are adequate to meet its requirements.
The Inspector General may give written instructions to a confederation as to the adequacy of its capital stock, reserves and liquid assets.
He shall, before exercising that power, inform the confederation of his intention and give it an opportunity to be heard.
A confederation may, by by-law applicable to the federations affiliated with it and to the credit unions affiliated with such federations, establish standards relating to the adequacy of their liquid assets.
It may also, by by-law applicable to the federation affiliated with it, establish standards relating to the adequacy of their capital stock and general reserve.
1988, c. 64, s. 450.