A-24 - Cooperative Associations Act

Section 63 Disposition versions

1977-12-31

63. The board of directors shall, in particular,

(a)  require every person having the management or custody of funds of the association to give security and shall prescribe the nature and amount thereof;

(b)  insure the association against the hazards of fire, theft and public and employer’s liability;

(c)  appoint two persons to take the inventory at the close of the fiscal year, and specify how it is to be taken;

(d)  at the annual meeting, give an account of its management and submit the annual report;

(e)  forward a certified copy of the annual report as prescribed by section 87;

(f)  facilitate the work of the auditor;

(g)  promote cooperation among the members of the association and between the association and other cooperative bodies;

(h)  encourage cooperative education by all effective means;

(i)  furnish the Minister, upon request, with a duplicate of the by-laws of the association and with any information or other documents which he may require concerning the carrying out of this act.

R. S. 1964, c. 292, s. 57; 1970, c. 58, s. 17.