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C-67.3 - Act respecting financial services cooperatives

Section 122
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122. Section 121 does not apply to the remuneration of officers or any other matter connected with a contract of employment.
2000, c. 29, s. 122; 2002, c. 45, s. 338; 2004, c. 37, s. 90; 2018, c. 23, s. 102.
122. A person is a restricted party with respect to a financial services cooperative where that person is
(1)  an officer of the cooperative, and in the case of a credit union, an officer of the federation and any person associated with such an officer;
(2)  a legal person or partnership, other than the legal person or partnership belonging to the group, a majority of the directors or officers of which are officers referred to in paragraph 1;
(3)  any other person whose interests or dealings with a cooperative might, in the opinion of the Authority, influence in that person’s favour the investments, credit or transactions that may be made or extended by that cooperative.
2000, c. 29, s. 122; 2002, c. 45, s. 338; 2004, c. 37, s. 90.
122. A person is a restricted party with respect to a financial services cooperative where that person is
(1)  an officer of the cooperative, and in the case of a credit union, an officer of the federation and any person associated with such an officer;
(2)  a legal person or partnership, other than the legal person or partnership belonging to the group, a majority of the directors or officers of which are officers referred to in paragraph 1;
(3)  any other person whose interests or dealings with a cooperative might, in the opinion of the Agency, influence in that person’s favour the investments, credit or transactions that may be made or extended by that cooperative.
2000, c. 29, s. 122; 2002, c. 45, s. 338.
122. A person is a restricted party with respect to a financial services cooperative where that person is
(1)  an officer of the cooperative, and in the case of a credit union, an officer of the federation and any person associated with such an officer;
(2)  a legal person or partnership, other than the legal person or partnership belonging to the group, a majority of the directors or officers of which are officers referred to in paragraph 1;
(3)  any other person whose interests or dealings with a cooperative might, in the opinion of the Inspector General, influence in that person’s favour the investments, credit or transactions that may be made or extended by that cooperative.
2000, c. 29, s. 122.
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