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C-67.3 - Act respecting financial services cooperatives
Section 547.42
Disposition versions
547.42. In addition to the articles of amalgamation, the Federation shall prepare the following documents with regard to an amalgamated credit union:
(1) a notice of the names and addresses of the first officers of the amalgamated credit union, unless, in the case of an amalgamation by absorption, those officers are the same as the ones of the absorbing credit union before the amalgamation; and
(2) a document stating the number of shares issued by each amalgamating credit union, or stating
(a) that all such shares will be converted into shares of the amalgamated credit union;
(b) the price of each share; and
(c) the manner in which such shares will be converted into shares of the amalgamated credit union.
The Federation must also provide the details of any arrangements necessary to complete the amalgamation and to provide for the subsequent management and operation of the amalgamated credit union.
Not in force
547.42. In addition to the articles of amalgamation, the Federation shall prepare the following documents with regard to an amalgamated credit union:
(1) a notice of the names and addresses of the first officers of the amalgamated credit union, unless, in the case of an amalgamation by absorption, those officers are the same as the ones of the absorbing credit union before the amalgamation; and
(2) a document stating the number of shares issued by each amalgamating credit union, or stating
(a) that all such shares will be converted into shares of the amalgamated credit union;
(b) the price of each share; and
(c) the manner in which such shares will be converted into shares of the amalgamated credit union.
The Federation must also provide the details of any arrangements necessary to complete the amalgamation and to provide for the subsequent management and operation of the amalgamated credit union.
