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C-67.3 - Act respecting financial services cooperatives

Section 195
Disposition versions

Full text
195. To be a member of a credit union, a person or partnership must
(1)  apply for membership, except in the case of a founder mentioned in section 7;
(2)  subscribe and pay for one qualifying share or for any other number of qualifying shares that may be prescribed by by‑law of the credit union;
(3)  undertake to comply with the by-laws of the credit union;
(4)  be admitted by the board of directors or by a person authorized by it, except in the case of a founder.
2000, c. 29, s. 195; 2018, c. 23, s. 122.
195. To be a member of a credit union, a person or partnership must
(1)  apply for membership, except in the case of a founder mentioned in section 7;
(2)  subscribe and pay for the number of qualifying shares prescribed by by-law of the credit union or, in the absence of such a by-law, one qualifying share;
(3)  undertake to comply with the by-laws of the credit union;
(4)  be admitted by the board of directors or by a person authorized by it, except in the case of a founder.
2000, c. 29, s. 195.
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