C-4.1 - Savings and Credit Unions Act

Section 321 Disposition versions

1989-03-15

321. The Minister may, if he considers it advisable and after obtaining his advice, request the Inspector General to dissolve a credit union if

(1)  the number of members is reduced to less than 12;

(2)  the organization meeting is not held within 60 days after the date of incorporation or, as the case may be, within the time granted by the Inspector General;

(3)  the credit union has failed, for three consecutive years, to hold the annual meeting of its members or to furnish a copy of its annual report to the Inspector General;

(4)  the liquidator has failed to transmit to the Inspector General the reports or information required under sections 317, 318 and 319.

1988, c. 64, s. 321.