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A-24 - Cooperative Associations Act

Section 106
Disposition versions

Full text
106. The liquidator shall first pay the debts of the association and the costs of winding-up, and secondly the amounts paid on the shares according to the priorities established by by-law.
After such payments, the balance derived from the winding-up, including the balance of the general reserve provided for in section 88, shall devolve to an association or federation designated by the Government upon the advice of the Conseil de la coopération.
For the purposes of this section, the word “federation” shall include the “Société coopérative fédérée des agriculteurs de la province de Québec”.
R. S. 1964, c. 292, s. 100; 1968, c. 75, s. 3; 1970, c. 58, s. 26.
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