C-4.1 - Savings and Credit Unions Act

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75. Permanent shares are transferable among members, including auxiliary members where permitted by the by-law of the credit union, and between such members and the confederation with which the federation of which the credit union is a member is affiliated, where that is the case.
Permanent shares may also be transferred to third persons if they have been given as security by a member or an auxiliary member.
Permanent shares transferred to the confederation or to third persons may be subsequently transferred only to members of the credit union which issued them, including auxiliary members where permitted by the by-law of the credit union.
1988, c. 64, s. 75.