C-67.2 - Cooperatives Act

Full text
213. (Repealed).
1982, c. 26, s. 213; 1995, c. 67, s. 128.
213. A fishermen’s cooperative may make loans to its members for the needs of their industry; in no case may the sums loaned be taken out of any funds except those not absorbed by corporate debts due or those specifically placed at its disposal by a federation for loans of such nature.
Loans derived from funds placed at the disposal of the cooperative by the federation must have prior approval of the board of directors of the federation of which the cooperative is a member. Such approval does not engage the responsibility of the federation.
1982, c. 26, s. 213.