C-67.2 - Cooperatives Act

Section 27 Disposition versions

1997-02-14

27. In addition to the powers conferred on it by this title, a cooperative may also

(1)  give to its members or auxiliary members, as the case may be, in payment of a portion of the price of produce delivered or services rendered to it, shares, bonds or other securities, up to 10% of the price of such produce or services;

(2)  sell its debts or book accounts, present or future, or payments due or accruing on its shares, in accordance with the provisions of the Civil Code relating to the assignment of claims;

(3)  (paragraph repealed);

(4)  (paragraph repealed);

(5)  hypothecate or otherwise give as security property delivered to it by its members if there is a contract between the cooperative and the members to that effect;

(6)  retain, for the recovery of any claim it has against a person or partnership and up to the amount of the claim, any amounts it may owe him or it, or confiscate the person’s or partnership’s shares and effect compensation.

1982, c. 26, s. 27; 1984, c. 28, s. 2; 1992, c. 57, s. 523; 1995, c. 67, s. 14.

1994-01-01

27. In addition to the powers conferred on it by this title, a cooperative may also

(1)  give to its members or auxiliary members, as the case may be, in payment of a portion of the price of produce delivered or services rendered to it, shares, bonds or other securities, up to 10 % of the price of such produce or services;

(2)  sell its debts or book accounts, present or future, or payments due or accruing on its shares, in accordance with the provisions of the Civil Code of Québec relating to the assignment of claims;

(3)  (paragraph repealed);

(4)  hypothecate its movable or immovable property;

(5)  hypothecate or otherwise give as security property delivered to it by its members if there is a contract between the cooperative and the members to that effect;

(6)  retain, for the recovery of any claim it has against a person, any amounts it may owe him and apply them in compensation.

1982, c. 26, s. 27; 1984, c. 28, s. 2; 1992, c. 57, s. 523.

1984-06-20

27. In addition to the powers conferred on it by this title, a cooperative may also

(1)  give to its members or auxiliary members, as the case may be, in payment of a portion of the price of produce delivered or services rendered to it, shares, bonds or other securities, up to ten percent of the price of such produce or services;

(2)  sell its debts or book accounts, present or future, or payments due or accruing on its shares, in accordance with article 1571d of the Civil Code;

(3)  pledge its property in accordance with articles 1979a to 1979k of the Civil Code;

(4)  hypothecate, mortgage or pledge its moveable and immoveable property, present or future, in accordance with the Special Corporate Powers Act (chapter P-16) to guarantee the securities issued by it;

(5)  pledge, hypothecate or otherwise give as security property delivered to it by its members if there is a contract between the cooperative and the members to that effect;

(6)  retain, for the recovery of any claim it has against a person, any amounts it may owe him and apply them in compensation.

1982, c. 26, s. 27; 1984, c. 28, s. 2.

1983-12-21

27. In addition to the powers conferred on it by this title, a cooperative may also

(1)  give to its members or auxiliary members, as the case may be, in payment of a portion of the price of produce delivered or services rendered to it, shares, bonds or other securities, up to ten percent of the price of such produce or services;

(2)  sell its debts or book accounts, present or future, or payments due or accruing on its shares, in accordance with article 1571d of the Civil Code;

(3)  pledge its property in accordance with articles 1979a to 1979k of the Civil Code;

(4)  hypothecate, mortgage or pledge its moveable and immoveable property, present or future, in accordance with the Special Corporate Powers Act (chapter P-16) to guarantee the securities issued by it;

(5)  pledge, hypothecate or otherwise give as security property delivered to it by its members;

(6)  retain, for the recovery of any claim it has against a person, any amounts it may owe him and apply them in compensation.

1982, c. 26, s. 27.