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C-4.1 - Savings and Credit Unions Act

Section 12
Disposition versions

Full text
12. No credit union may be incorporated unless a federation has undertaken to admit it as a member and to furnish, at the request of the Inspector General of Financial Institutions, such guarantees as he may consider sufficient to ensure the protection of the members of the credit union to be incorporated.
The guarantees required pursuant to the first paragraph may be furnished by a security fund corporation.
1988, c. 64, s. 12.
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