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C-4 - Savings and Credit Unions Act

Section 106
Disposition versions

Full text
106. A union may decide to wind up its affairs by the affirmative vote of three-fourths of the members present at a general meeting called for such purpose.
Such meeting shall then appoint, by the majority of the members present, one or three liquidators who shall be entitled to immediate possession of the property of the union.
The provisions of Divisions II and III of the Winding-up Act (chapter L‐4) not inconsistent with those of this division shall apply with the necessary modifications to the winding-up so decided upon.
R. S. 1964, c. 293, s. 93; 1970, c. 59, s. 38.
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