C-67.2 - Cooperatives Act

Section 28 Disposition versions

2015-04-29

28. A cooperative may, in the pursuit of its object, grant financial assistance to

(1)  a person or partnership, if the assistance enables the cooperative to do business with or increase its volume of business with the person or partnership, or is intended to enable the person to acquire the equipment necessary to perform the work provided to him by the cooperative;

(2)  a member or an employee to enable him to invest in the cooperative, provided the assistance is for a maximum period of 12 months;

(3)  a legal person or partnership in which it holds shares or other securities.

Nothing in this section shall restrict the powers of the cooperative as regards the conditions of employment of its employees.

1982, c. 26, s. 28; 1995, c. 67, s. 15; 2015, c. 3, s. 5.

1997-02-14

28. A cooperative may, in the pursuit of its object, grant financial assistance to

(1)  a person or partnership, if the assistance enables the cooperative to do business with or increase its volume of business with the person or partnership, or is intended to enable the person to acquire the equipment necessary to perform the work provided to him by the cooperative;

(2)  a member or an employee to enable him to invest in the cooperative;

(3)  a legal person or partnership in which it holds shares or other securities.

Nothing in this section shall restrict the powers of the cooperative as regards the conditions of employment of its employees.

1982, c. 26, s. 28; 1995, c. 67, s. 15.

1983-12-21

28. No cooperative may grant a loan, a surety or any other form of financial assistance to a member.

However, a cooperative may, in the course of its business with a member, grant him financial assistance.

1982, c. 26, s. 28.