462. Every confederation shall, at least once a year, inspect the internal affairs and activities of the federations affiliated with it and, ay least every 18 months, of the credit unions affiliated with such federations.
It shall also carry out such an inspection at the request of the board of audit and ethics of the federation or a credit union affiliated with the federation.
A further purpose of such an inspection shall be to ensure compliance with the standards relating to commercial practices in the distribution of financial products and services by the federation and the credit union affiliated with the federation, where it pursues activities referred to in subparagraph 4.1 of the first paragraph of section 213, or by the legal person or partnership through which it pursues such activities.
1988, c. 64, s. 462; 1996, c. 69, s. 154; 1998, c. 37, s. 521.