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C-67.3 - Act respecting financial services cooperatives
Section 415
Disposition versions
415. The federation may issue shares in relation to an investment fund. The shares shall not bear interest.
Shares in relation to an investment fund are capital shares within the meaning of the first paragraph of section 54 even if they do not bear interest. They may be paid for in cash in accordance with section 48 but they may also, despite that section, be paid for by converting or exchanging all or some of the other shares issued by the federation.
Despite section 56, such shares have no par value.
415. The federation may issue capital shares in relation to an investment fund. The shares shall have no par value and shall not bear interest. They may be paid in cash or by way of a conversion or exchange of all or part of the deposits in the investment fund.
