C-67.2 - Cooperatives Act

Section 155 Disposition versions

2005-11-17

155. Cooperatives that propose to amalgamate shall enter into an agreement that, in addition to the terms and conditions of amalgamation, indicates

(1)  the name of the cooperative resulting from the amalgamation, its objects and the provisions referred to in section 10;

(2)  the name and domicile of each of its first directors;

(3)  where applicable, the mode of election of subsequent directors;

(4)  the number of shares subscribed in each of the amalgamating cooperatives, the price of each of the shares and the modalities of converting them into common shares, preferred shares or other securities of the cooperative resulting from the amalgamation;

(5)  where shares of one of the cooperatives are not converted into shares of the cooperative resulting from the amalgamation, the amount of money or any other form of payment to be received by the holders of such shares in addition to or instead of shares of the cooperative resulting from the amalgamation;

(5.1)  the amount of money or any other form of payment to stand in lieu of fractions of shares of the cooperative resulting from the amalgamation;

(5.2)  the date on which the amalgamation is to take effect if that date differs from the date of approval;

(5.3)  in the case of the amalgamation of cooperatives pursuing agricultural purposes, mention to the effect that the cooperative resulting from the amalgamation is or is not governed by Division I of Chapter I of Title II of this Act;

(6)  where such is the case, the provisions necessary to complete the amalgamation and to ensure the organization and management of the cooperative resulting from the amalgamation, in particular, the holding of meetings to decide on the allocation of the operating surplus or surplus earnings of the amalgamating cooperatives, as provided for in section 163.

1982, c. 26, s. 155; 1995, c. 67, s. 97; 2003, c. 18, s. 76.

1997-02-14

155. Cooperatives that propose to amalgamate shall enter into an agreement that, in addition to the terms and conditions of amalgamation, indicates

(1)  the name of the cooperative resulting from the amalgamation, the judicial district in which its domicile is situated, its objects and the provisions referred to in section 10;

(2)  the name and domicile of each of its first directors;

(3)  where applicable, the mode of election of subsequent directors;

(4)  the number of shares subscribed in each of the amalgamating cooperatives, the price of each of the shares and the modalities of converting them into common shares, preferred shares or other securities of the cooperative resulting from the amalgamation;

(5)  where shares of one of the cooperatives are not converted into shares of the cooperative resulting from the amalgamation, the amount of money or any other form of payment to be received by the holders of such shares in addition to or instead of shares of the cooperative resulting from the amalgamation;

(5.1)  the amount of money or any other form of payment to stand in lieu of fractions of shares of the cooperative resulting from the amalgamation;

(5.2)  the date on which the amalgamation is to take effect if that date differs from the date of approval;

(5.3)  in the case of the amalgamation of cooperatives pursuing agricultural purposes, mention to the effect that the cooperative resulting from the amalgamation is or is not governed by Chapter I of Title II of this Act;

(6)  where such is the case, the provisions necessary to complete the amalgamation and to ensure the organization and management of the cooperative resulting from the amalgamation, in particular, the holding of meetings to decide on the allocation of the operating surplus or surplus earnings of the amalgamating cooperatives, as provided for in section 163.

1982, c. 26, s. 155; 1995, c. 67, s. 97.

1983-12-21

155. Cooperatives that propose to amalgamate shall enter into an agreement that, in addition to the terms and conditions of amalgamation, indicates

(1)  the corporate name of the cooperative resulting from the amalgamation, the judicial district of its head office, its objects, the territory or group in or from which it may recruit its members, and the provisions prescribed by section 10;

(2)  the surname, given name, address and occupation of each of its first directors;

(3)  where applicable, the mode of election of subsequent directors;

(4)  the number of shares subscribed in each of the amalgamating cooperatives, the price of each of the shares and the modalities of converting them into common or preferred shares of the cooperative resulting from the amalgamation;

(5)  the by-laws of internal management and the general loan by-laws of the cooperative resulting from the amalgamation;

(6)  where such is the case, the provisions necessary to complete the amalgamation and to ensure the organization and management of the cooperative resulting from the amalgamation.

1982, c. 26, s. 155.