C-4 - Savings and Credit Unions Act

Section 50 Disposition versions

2006-06-08

50. The board of directors shall in particular

(a)  forward upon request to the Inspector General a certified true copy of the by-laws of the union;

(b)  control the keeping of the books;

(c)  maintain a liquid position in conformity with the by-laws of the federation with which the union is affiliated;

(d)  determine the rate of interest on savings and loans as well as the amount of the funds of which the committee on credit may dispose for loans to members;

(e)  make or control investments;

(f)  require any person entrusted with the management or custody of funds of the union to give security in accordance with the by-laws of the federation with which the union is affiliated;

(g)  insure the union against the risks of fire, theft and public and employers’ liability;

(h)  at the annual meeting, give an account of its operations and submit the annual report;

(i)  forward a certified copy of the annual report, within three months after the end of the fiscal year, to the Inspector General, to the Minister of Economic Development, Innovation and Export Trade and to the federation with which the union is affiliated;

(j)  facilitate the work of the inspectors and, as the case may be, of the auditor;

(k)  promote cooperation among the members of the union and between it and other cooperative bodies;

(l)  encourage, by any effective means, economic, social and cooperative education.

R. S. 1964, c. 293, s. 49; 1970, c. 59, s. 20; 1978, c. 85, s. 7; 1979, c. 77, s. 27; 1982, c. 52, s. 91; 1984, c. 36, s. 44; 1988, c. 41, s. 89; 1994, c. 16, s. 51; 1999, c. 8, s. 42; 2003, c. 29, s. 135; 2006, c. 8, s. 31.

2004-03-23

50. The board of directors shall in particular

(a)  forward upon request to the Inspector General a certified true copy of the by-laws of the union;

(b)  control the keeping of the books;

(c)  maintain a liquid position in conformity with the by-laws of the federation with which the union is affiliated;

(d)  determine the rate of interest on savings and loans as well as the amount of the funds of which the committee on credit may dispose for loans to members;

(e)  make or control investments;

(f)  require any person entrusted with the management or custody of funds of the union to give security in accordance with the by-laws of the federation with which the union is affiliated;

(g)  insure the union against the risks of fire, theft and public and employers’ liability;

(h)  at the annual meeting, give an account of its operations and submit the annual report;

(i)  forward a certified copy of the annual report, within three months after the end of the fiscal year, to the Inspector General, to the Minister of Economic and Regional Development and Research and to the federation with which the union is affiliated;

(j)  facilitate the work of the inspectors and, as the case may be, of the auditor;

(k)  promote cooperation among the members of the union and between it and other cooperative bodies;

(l)  encourage, by any effective means, economic, social and cooperative education.

R. S. 1964, c. 293, s. 49; 1970, c. 59, s. 20; 1978, c. 85, s. 7; 1979, c. 77, s. 27; 1982, c. 52, s. 91; 1984, c. 36, s. 44; 1988, c. 41, s. 89; 1994, c. 16, s. 51; 1999, c. 8, s. 42; 2003, c. 29, s. 135.

1999-06-08

50. The board of directors shall in particular

(a)  forward upon request to the Inspector General a certified true copy of the by-laws of the union;

(b)  control the keeping of the books;

(c)  maintain a liquid position in conformity with the by-laws of the federation with which the union is affiliated;

(d)  determine the rate of interest on savings and loans as well as the amount of the funds of which the committee on credit may dispose for loans to members;

(e)  make or control investments;

(f)  require any person entrusted with the management or custody of funds of the union to give security in accordance with the by-laws of the federation with which the union is affiliated;

(g)  insure the union against the risks of fire, theft and public and employers’ liability;

(h)  at the annual meeting, give an account of its operations and submit the annual report;

(i)  forward a certified copy of the annual report, within three months after the end of the fiscal year, to the Inspector General, to the Minister of Industry and Trade and to the federation with which the union is affiliated;

(j)  facilitate the work of the inspectors and, as the case may be, of the auditor;

(k)  promote cooperation among the members of the union and between it and other cooperative bodies;

(l)  encourage, by any effective means, economic, social and cooperative education.

R. S. 1964, c. 293, s. 49; 1970, c. 59, s. 20; 1978, c. 85, s. 7; 1979, c. 77, s. 27; 1982, c. 52, s. 91; 1984, c. 36, s. 44; 1988, c. 41, s. 89; 1994, c. 16, s. 51; 1999, c. 8, s. 42.

1994-06-17

50. The board of directors shall in particular

(a)  forward upon request to the Inspector General a certified true copy of the by-laws of the union;

(b)  control the keeping of the books;

(c)  maintain a liquid position in conformity with the by-laws of the federation with which the union is affiliated;

(d)  determine the rate of interest on savings and loans as well as the amount of the funds of which the committee on credit may dispose for loans to members;

(e)  make or control investments;

(f)  require any person entrusted with the management or custody of funds of the union to give security in accordance with the by-laws of the federation with which the union is affiliated;

(g)  insure the union against the risks of fire, theft and public and employers’ liability;

(h)  at the annual meeting, give an account of its operations and submit the annual report;

(i)  forward a certified copy of the annual report, within three months after the end of the fiscal year, to the Inspector General, to the Minister of Industry, Trade, Science and Technology and to the federation with which the union is affiliated;

(j)  facilitate the work of the inspectors and, as the case may be, of the auditor;

(k)  promote cooperation among the members of the union and between it and other cooperative bodies;

(l)  encourage, by any effective means, economic, social and cooperative education.

R. S. 1964, c. 293, s. 49; 1970, c. 59, s. 20; 1978, c. 85, s. 7; 1979, c. 77, s. 27; 1982, c. 52, s. 91; 1984, c. 36, s. 44; 1988, c. 41, s. 89; 1994, c. 16, s. 51.

1988-12-21

50. The board of directors shall in particular

(a)  forward upon request to the Inspector General a certified true copy of the by-laws of the union;

(b)  control the keeping of the books;

(c)  maintain a liquid position in conformity with the by-laws of the federation with which the union is affiliated;

(d)  determine the rate of interest on savings and loans as well as the amount of the funds of which the committee on credit may dispose for loans to members;

(e)  make or control investments;

(f)  require any person entrusted with the management or custody of funds of the union to give security in accordance with the by-laws of the federation with which the union is affiliated;

(g)  insure the union against the risks of fire, theft and public and employers’ liability;

(h)  at the annual meeting, give an account of its operations and submit the annual report;

(i)  forward a certified copy of the annual report, within three months after the end of the fiscal year, to the Inspector General, to the Minister of Industry, Trade and Technology and to the federation with which the union is affiliated;

(j)  facilitate the work of the inspectors and, as the case may be, of the auditor;

(k)  promote cooperation among the members of the union and between it and other cooperative bodies;

(l)  encourage, by any effective means, economic, social and cooperative education.

R. S. 1964, c. 293, s. 49; 1970, c. 59, s. 20; 1978, c. 85, s. 7; 1979, c. 77, s. 27; 1982, c. 52, s. 91; 1984, c. 36, s. 44; 1988, c. 41, s. 89.

1984-12-20

50. The board of directors shall in particular

(a)  forward upon request to the Inspector General a certified true copy of the by-laws of the union;

(b)  control the keeping of the books;

(c)  maintain a liquid position in conformity with the by-laws of the federation with which the union is affiliated;

(d)  determine the rate of interest on savings and loans as well as the amount of the funds of which the committee on credit may dispose for loans to members;

(e)  make or control investments;

(f)  require any person entrusted with the management or custody of funds of the union to give security in accordance with the by-laws of the federation with which the union is affiliated;

(g)  insure the union against the risks of fire, theft and public and employers’ liability;

(h)  at the annual meeting, give an account of its operations and submit the annual report;

(i)  forward a certified copy of the annual report, within three months after the end of the fiscal year, to the Inspector General, to the Minister of Industry and Commerce and to the federation with which the union is affiliated;

(j)  facilitate the work of the inspectors and, as the case may be, of the auditor;

(k)  promote cooperation among the members of the union and between it and other cooperative bodies;

(l)  encourage, by any effective means, economic, social and cooperative education.

R. S. 1964, c. 293, s. 49; 1970, c. 59, s. 20; 1978, c. 85, s. 7; 1979, c. 77, s. 27; 1982, c. 52, s. 91; 1984, c. 36, s. 44.

1983-04-01

50. The board of directors shall in particular

(a)  forward upon request to the Inspector General a certified true copy of the by-laws of the union;

(b)  control the keeping of the books;

(c)  maintain a liquid position in conformity with the by-laws of the federation with which the union is affiliated;

(d)  determine the rate of interest on savings and loans as well as the amount of the funds of which the committee on credit may dispose for loans to members;

(e)  make or control investments;

(f)  require any person entrusted with the management or custody of funds of the union to give security in accordance with the by-laws of the federation with which the union is affiliated;

(g)  insure the union against the risks of fire, theft and public and employers’ liability;

(h)  at the annual meeting, give an account of its operations and submit the annual report;

(i)  forward a certified copy of the annual report, within three months after the end of the fiscal year, to the Inspector General, to the Minister of Industry, Commerce and Tourism and to the federation with which the union is affiliated;

(j)  facilitate the work of the inspectors and, as the case may be, of the auditor;

(k)  promote cooperation among the members of the union and between it and other cooperative bodies;

(l)  encourage, by any effective means, economic, social and cooperative education.

R. S. 1964, c. 293, s. 49; 1970, c. 59, s. 20; 1978, c. 85, s. 7; 1979, c. 77, s. 27; 1982, c. 52, s. 91.

1980-01-24

50. The board of directors shall in particular

(a)  forward upon request to the Minister a certified copy of the by-laws of the union;

(b)  control the keeping of the books;

(c)  maintain a liquid position in conformity with the by-laws of the federation with which the union is affiliated;

(d)  determine the rate of interest on savings and loans as well as the amount of the funds of which the committee on credit may dispose for loans to members;

(e)  make or control investments;

(f)  require any person entrusted with the management or custody of funds of the union to give security in accordance with the by-laws of the federation with which the union is affiliated;

(g)  insure the union against the risks of fire, theft and public and employers’ liability;

(h)  at the annual meeting, give an account of its operations and submit the annual report;

(i)  forward a certified copy of the annual report, within three months after the end of the fiscal year, to the Minister, to the Minister of Industry, Commerce and Tourism and to the federation with which the union is affiliated;

(j)  facilitate the work of the inspectors and, as the case may be, of the auditor;

(k)  promote cooperation among the members of the union and between it and other cooperative bodies;

(l)  encourage, by any effective means, economic, social and cooperative education.

R. S. 1964, c. 293, s. 49; 1970, c. 59, s. 20; 1978, c. 85, s. 7; 1979, c. 77, s. 27.

1978-06-23

50. The board of directors shall in particular

(a)  forward upon request to the Minister a certified copy of the by-laws of the union;

(b)  control the keeping of the books;

(c)  maintain a liquid position in conformity with the by-laws of the federation with which the union is affiliated;

(d)  determine the rate of interest on savings and loans as well as the amount of the funds of which the committee on credit may dispose for loans to members;

(e)  make or control investments;

(f)  require any person entrusted with the management or custody of funds of the union to give security in accordance with the by-laws of the federation with which the union is affiliated;

(g)  insure the union against the risks of fire, theft and public and employers’ liability;

(h)  at the annual meeting, give an account of its operations and submit the annual report;

(i)  forward a certified copy of the annual report, within three months after the end of the fiscal year, to the Minister, to the Minister of Industry and Commerce and to the federation with which the union is affiliated;

(j)  facilitate the work of the inspectors and, as the case may be, of the auditor;

(k)  promote cooperation among the members of the union and between it and other cooperative bodies;

(l)  encourage, by any effective means, economic, social and cooperative education.

R. S. 1964, c. 293, s. 49; 1970, c. 59, s. 20; 1978, c. 85, s. 7.

1977-12-31

50. The board of directors shall in particular

(a)  forward upon request to the Minister a certified copy of the by-laws of the union;

(b)  control the keeping of the books;

(c)  maintain a liquid position in conformity with the by-laws of the federation with which the union is affiliated;

(d)  determine the amount of the funds of which the committee on credit may dispose for loans to members;

(e)  make or control investments;

(f)  require any person entrusted with the management or custody of funds of the union to give security in accordance with the by-laws of the federation with which the union is affiliated;

(g)  insure the union against the risks of fire, theft and public and employers’ liability;

(h)  at the annual meeting, give an account of its operations and submit the annual report;

(i)  forward a certified copy of the annual report, within three months after the end of the fiscal year, to the Minister, to the Minister of Industry and Commerce and to the federation with which the union is affiliated;

(j)  facilitate the work of the inspectors and, as the case may be, of the auditor;

(k)  promote cooperation among the members of the union and between it and other cooperative bodies;

(l)  encourage, by any effective means, economic, social and cooperative education.

R. S. 1964, c. 293, s. 49; 1970, c. 59, s. 20.