C-67.2 - Cooperatives Act

Section 49.4 Disposition versions

2001-07-01

49.4. Participating preferred shares may entitle their holders to receive annual interest of up to 25% of the amount paid for the shares. The interest may include a participation in the operating surplus or surplus earnings of the cooperative up to a maximum of 25% of the operating surplus or surplus earnings.

The operating surplus or surplus earnings referred to in the first paragraph are the operating surplus or surplus earnings appearing in the income statement of the cooperative once the interest allocated to preferred shares and participating preferred shares, other than interest allocated as participation in the operating surplus or surplus earnings, has been deducted.

1995, c. 67, s. 29; 2001, c. 36, s. 34.

1997-02-14

49.4. Participating preferred shares may entitle their holders to receive annual interest of up to 25 % of the amount paid for the shares. The interest may include a participation in the operating surplus or surplus earnings of the cooperative up to a maximum of 25 % of the operating surplus or surplus earnings. Such participation shall be determined by the annual meeting.

The operating surplus or surplus earnings referred to in the first paragraph are the operating surplus or surplus earnings appearing in the income statement of the cooperative once the interest allocated to preferred shares and participating preferred shares, other than interest allocated as participation in the operating surplus or surplus earnings, has been deducted.

1995, c. 67, s. 29.