C-67.2 - Cooperatives Act

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5. A cooperative is bound by any deed performed in its interest before its constitution, provided it ratifies the deed after its constitution.
The ratification transfers to the cooperative the rights and obligations of the party who performed the deed, but does not of itself effect a novation; moreover, the person who performed the deed has the same rights and is bound by the same obligations as a mandatary of the cooperative.
1982, c. 26, s. 5; 1995, c. 67, s. 171; 2003, c. 18, s. 4.
5. A cooperative is bound by any deed performed in its interest before its constitution, provided it ratifies the deed within 90 days after its constitution.
The ratification transfers to the cooperative the rights and obligations of the party who performed the deed, but does not of itself effect a novation; moreover, the person who performed the deed has the same rights and is bound by the same obligations as a mandatary of the cooperative.
1982, c. 26, s. 5; 1995, c. 67, s. 171.
5. A cooperative is bound by any deed performed in its interest before its incorporation, provided it ratifies the deed within ninety days after its incorporation.
The ratification transfers to the cooperative the rights and obligations of the party who performed the deed, but does not of itself effect a novation; moreover, the person who performed the deed has the same rights and is bound by the same obligations as a mandatary of the cooperative.
1982, c. 26, s. 5.