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A-24 - Cooperative Associations Act
Section 119
Disposition versions
119. A cooperative association whose principal object is to assist its members to acquire the ownership or use of a house or dwelling may, if it has adopted a special by-law for the purpose, receive from its members advances on account of the cost of their land and houses, give them credit or make hypothecary loans to them; the conditions of such loans and the mode of use and the disposal of such advances shall be determined in the by-law.
