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C-67.3 - Act respecting financial services cooperatives
Section 547.47
Disposition versions
547.47. All the financial services cooperatives belonging to the Group, together with the Fund, may be amalgamated into a single legal person to be wound up.
Such an amalgamation/winding-up requires a joint declaration of amalgamation/winding-up by the Federation and the Fund, approved by a resolution passed by a 3/4 majority of the votes cast by the credit unions that belong to the Group and whose members make up at least 3/4 of all the members of those credit unions.
A credit union belonging to the Group may not be wound up in any other manner. The same applies to the Federation and the Fund.
Not in force
547.47. All the financial services cooperatives belonging to the Group, together with the Fund, may be amalgamated into a single legal person to be wound up.
Such an amalgamation/winding-up requires a joint declaration of amalgamation/winding-up by the Federation and the Fund, approved by a resolution passed by a 3/4 majority of the votes cast by the credit unions that belong to the Group and whose members make up at least 3/4 of all the members of those credit unions.
A credit union belonging to the Group may not be wound up in any other manner. The same applies to the Federation and the Fund.
