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C-4.1 - Savings and Credit Unions Act

Section 9
Disposition versions

Full text
9. (Repealed).
1988, c. 64, s. 9; 1996, c. 69, s. 1.
9. Every credit union is bound by any act performed in its interest before its incorporation, provided it ratifies it within 90 days from incorporation.
The ratification transfers to the credit union the rights and obligations of the person who performed the act, but does not of itself effect a novation. The person who performed the act has the same rights and is bound by the same obligations in respect of the credit union as a mandatary.
1988, c. 64, s. 9.
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