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C-67.3 - Act respecting financial services cooperatives

Section 191
Disposition versions

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191. A credit union which decides to withdraw from a federation or which is expelled following a decision of the federation must, within 90 days of the ratification of the resolution or decision, pass any resolution necessary to apply for admission to another federation, apply for the constitution of a new federation, amalgamate with a credit union that is a member of another federation, be wound up or apply to the Minister for an exemption from compliance with section 186.
The Authority may extend the period of time mentioned in the first paragraph, even if it has expired.
2000, c. 29, s. 191; 2002, c. 45, s. 338; 2004, c. 37, s. 90; 2018, c. 23, s. 121.
191. A credit union which decides to withdraw from a federation or which is expelled following a decision of the federation must, within 90 days of the ratification of the resolution or decision, pass a by-law or resolution, as the case may be, to apply for admission to another federation, apply for the constitution of a new federation, amalgamate with a credit union that is a member of another federation, be wound up or apply to the Minister for an exemption from compliance with section 186.
The Authority may extend the period of time mentioned in the first paragraph, even if it has expired.
2000, c. 29, s. 191; 2002, c. 45, s. 338; 2004, c. 37, s. 90.
191. A credit union which decides to withdraw from a federation or which is expelled following a decision of the federation must, within 90 days of the ratification of the resolution or decision, pass a by-law or resolution, as the case may be, to apply for admission to another federation, apply for the constitution of a new federation, amalgamate with a credit union that is a member of another federation, be wound up or apply to the Minister for an exemption from compliance with section 186.
The Agency may extend the period of time mentioned in the first paragraph, even if it has expired.
2000, c. 29, s. 191; 2002, c. 45, s. 338.
191. A credit union which decides to withdraw from a federation or which is expelled following a decision of the federation must, within 90 days of the ratification of the resolution or decision, pass a by-law or resolution, as the case may be, to apply for admission to another federation, apply for the constitution of a new federation, amalgamate with a credit union that is a member of another federation, be wound up or apply to the Minister for an exemption from compliance with section 186.
The Inspector General may extend the period of time mentioned in the first paragraph, even if it has expired.
2000, c. 29, s. 191.
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