S-31.1 - Business Corporations Act

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328. The liquidator is not obliged to take out insurance or to provide security for the performance of the liquidator’s obligations, unless the shareholders require it by ordinary resolution, or the court orders it.
If the liquidator is required to provide security but refuses or neglects to do so, the liquidator forfeits office, unless relieved from the default by the shareholders or, as the case may be, by the court.
2009, c. 52, s. 328.