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C-67.3 - Act respecting financial services cooperatives

Section 89
Disposition versions

Full text
89. The board of directors of a credit union must pay out of the community development fund any sum that must be paid into the general reserve to ensure that its capital is in conformity with the provisions of this Act, where the sums allocated to the reserve for future dividends and the stabilization reserve are not sufficient to meet the obligations prescribed by section 88.
2000, c. 29, s. 89; 2003, c. 20, s. 4; 2018, c. 23, s. 80.
89. The board of directors of a credit union must pay out of the community development fund any sum that must be paid into the general reserve to ensure that the capital base of the credit union is in conformity with the provisions of this Act, where the sums allocated to the reserve for future dividends and the stabilization reserve are not sufficient to meet the obligations prescribed by section 88.
2000, c. 29, s. 89; 2003, c. 20, s. 4.
89. The board of directors of a credit union must pay out of the community development fund any sum that must be paid into the general reserve to ensure that the capital base of the credit union is in conformity with the provisions of this Act, where the sums allocated to the stabilization reserve are not sufficient to meet the obligations prescribed by section 88.
2000, c. 29, s. 89.
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