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C-4.1 - Savings and Credit Unions Act

Section 77
Disposition versions

Full text
77. No permanent share shall entitle its holder to obtain, in the event of the winding-up, insolvency or dissolution of the credit union, any payment for his shares before the deposits, the other debts and the preferred shares of the credit union have been paid or redeemed. However, permanent shares, except those held by the confederation, have priority over qualifying shares.
1988, c. 64, s. 77.
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