S-10.001 - Act respecting the Société de développement des coopératives

Section 21 Disposition versions

1984-06-06

21. In no case may the corporation acquire movable or immovable property except for its own use or pursuant to a cooperative undertaking’s failure to meet its obligations respecting financial assistance.

Notwithstanding the first paragraph, if a cooperative undertaking fails to meet its obligations, the corporation, within three years after the date of acquiring the property, shall dispose of it in favour of a cooperative undertaking or, with the authorization of the Minister, in favour of any other person. The Minister may extend the time limit.

1984, c. 8, s. 21.