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C-4.1 - Savings and Credit Unions Act
Section 89
Disposition versions
89. The interest payable on preferred shares shall be determined by the board of directors within the limits prescribed by by-law of the credit union, but shall in no case exceed the maximum rate prescribed by by-law of the federation with which the credit union is affiliated. Where the federation is affiliated with a confederation, the maximum rate is determined by by-law of the confederation.
