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C-67.2 - Cooperatives Act
Section 205
Disposition versions
205. The board of directors may
(1) (paragraph repealed);
(2) regulate the conditions and establish the term of the contracts that must be signed by each member pursuant to sections 53 and 200;
(3) expel any member who neglects or refuses upon the expiry of the contract contemplated in sections 53 and 200 to sign another contract or observe its requirements.
205. The board of directors may
(1) if authorized by the by-laws, issue preferred shares and determine their amount, the preferences, rights and restrictions attached to the shares and the conditions of their redemption or repayment;
(2) regulate the conditions of the contracts that must be signed by each member pursuant to sections 200 and 201;
(3) expel any member who neglects or refuses upon the expiry of the contract contemplated in sections 196, 200 and 201 to sign another contract or observe its requirements.
