S-38 - Cooperative Syndicates Act

Full text
10. The capital of the association may vary. It may be increased by successive payments and by the subscribing for new shares by the associates or by the admission of new associates, and it may be reduced by the total or partial withdrawal of the amounts contributed; provided, however, that the capital shall never be reduced below the amount established by the by-laws when the association was founded.
R. S. 1964, c. 294, s. 10.