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C-67.3 - Act respecting financial services cooperatives

Section 259
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259. The board of supervision of a credit union that is not a member of a federation shall also assume the functions and powers of the board of ethics and professional conduct of a federation as provided for in section 346, with the necessary modifications.
The board of supervision shall also adopt rules of ethics and professional conduct setting out the cases in which the auditor appointed by the credit union and the auditor’s partners, if any, may contract with the credit union, and the conditions applying to such contracts.
The rules of ethics and professional conduct adopted by the board of supervision for the protection of the interests of the credit union and its members shall be submitted for approval to the board of directors of the credit union. The credit union shall transmit a copy of the rules to the Authority within 30 days of their approval.
2000, c. 29, s. 259; 2002, c. 45, s. 338; 2004, c. 37, s. 90; 2005, c. 35, s. 14; 2016, c. 7, s. 206.
259. The board of supervision of a credit union that is not a member of a federation shall also assume the functions and powers of the board of ethics and professional conduct of a federation as provided for in sections 346 and 347, with the necessary modifications.
The rules of ethics and professional conduct adopted by the board of supervision for the protection of the interests of the credit union and its members shall be submitted for approval to the board of directors of the credit union. The credit union shall transmit a copy of the rules to the Authority within 30 days of their approval.
2000, c. 29, s. 259; 2002, c. 45, s. 338; 2004, c. 37, s. 90; 2005, c. 35, s. 14.
259. The board of audit and ethics of a credit union that is not a member of a federation shall also assume the functions and powers of the board of ethics of a federation as provided for in sections 346 and 347, with the necessary modifications.
The rules adopted by the board of audit and ethics for the protection of the interests of the credit union and its members shall be submitted for approval to the board of directors of the credit union. The credit union shall transmit a copy of the rules to the Authority within 30 days of their approval.
2000, c. 29, s. 259; 2002, c. 45, s. 338; 2004, c. 37, s. 90.
259. The board of audit and ethics of a credit union that is not a member of a federation shall also assume the functions and powers of the board of ethics of a federation as provided for in sections 346 and 347, with the necessary modifications.
The rules adopted by the board of audit and ethics for the protection of the interests of the credit union and its members shall be submitted for approval to the board of directors of the credit union. The credit union shall transmit a copy of the rules to the Agency within 30 days of their approval.
2000, c. 29, s. 259; 2002, c. 45, s. 338.
259. The board of audit and ethics of a credit union that is not a member of a federation shall also assume the functions and powers of the board of ethics of a federation as provided for in sections 346 and 347, with the necessary modifications.
The rules adopted by the board of audit and ethics for the protection of the interests of the credit union and its members shall be submitted for approval to the board of directors of the credit union. The credit union shall transmit a copy of the rules to the Inspector General within 30 days of their approval.
2000, c. 29, s. 259.
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