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C-67.2 - Cooperatives Act
Section 220
Disposition versions
220. A housing cooperative is a cooperative whose principal object is to assist its members in acquiring the ownership or use of a house or dwelling.
220. A cooperative whose principal object is to assist its members to acquire the ownership or use of a house or dwelling may, if authorized by a by-law, receive from its members sums on account of the cost of their land and houses or their dwellings, or open credit or make loans to them.
The conditions of the loans, and the mode of use and the disposal of the advances, must be determined in the by-law.
