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C-4.1 - Savings and Credit Unions Act

Section 375
Disposition versions

Full text
375. A federation has all the powers necessary to make good any operating deficit of a credit union affiliated with it in case of a deficiency in the general reserve of the credit union, where the security fund corporation of which it is a member does not do so.
The federation shall make up the deficit out of its own funds or by means of a special assessment collected from the credit unions affiliated with it.
1988, c. 64, s. 375.
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