C-67.3 - Act respecting financial services cooperatives

Section 346 Disposition versions

2018-07-13

346. The board of ethics and professional conduct of the federation shall adopt rules of ethics and professional conduct relating to the protection of the interests of the federation, the credit unions and their members.

The rules shall concern, in particular, the procedure governing contracts with restricted parties, the conditions applicable to the credit extended to restricted parties, the protection of confidential information held by the federation and credit unions, and the conduct required of the federation and credit unions in cases where their interest or that of a legal person belonging to the same financial group is in conflict with that of their members.

The rules shall also set out the procedure which the board of supervision of a credit union or the board of ethics and professional conduct or the board of directors of the federation must follow when intervening to resolve a conflict of interest or applying rules of ethics or professional conduct in respect of the credit union or the federation.

The board of ethics and professional conduct may adopt rules of ethics and professional conduct concerning officers, managers and other employees of the federation and credit unions and of officers of other legal persons belonging to the financial group.

2000, c. 29, s. 346; 2005, c. 35, s. 25; 2018, c. 23, s. 212.

2005-12-06

346. The board of ethics and professional conduct of the federation shall adopt rules of ethics and professional conduct relating to the protection of the interests of the federation, the credit unions and their members.

The rules shall concern, in particular, the procedure governing contracts with restricted parties, the conditions applicable to the credit extended to restricted parties, the protection of confidential information held by the federation and credit unions, and the conduct required of the federation and credit unions in cases where their interest or that of a legal person belonging to the same group is in conflict with that of their members.

The rules shall also set out the procedure which the board of supervision of a credit union or the board of ethics and professional conduct or the board of directors of the federation must follow when intervening to resolve a conflict of interest or applying rules of ethics or professional conduct in respect of the credit union or the federation.

The board of ethics and professional conduct may adopt rules of ethics and professional conduct concerning officers and employees of the federation and credit unions and of officers of other legal persons belonging to the group.

2000, c. 29, s. 346; 2005, c. 35, s. 25.

2001-07-01

346. The board of ethics of the federation shall adopt rules relating to the protection of the interests of the federation, the credit unions and their members.

The rules shall concern, in particular, the procedure governing contracts with restricted parties, the conditions applicable to the credit extended to restricted parties, the protection of confidential information held by the federation and credit unions, and the conduct required of the federation and credit unions in cases where their interest or that of a legal person belonging to the same group is in conflict with that of their members.

The rules shall also set out the procedure which the board of audit and ethics of a credit union or the board of ethics or the board of directors of the federation must follow when intervening to resolve a conflict of interest or applying rules of ethics in respect of the credit union or the federation.

The board of ethics may adopt rules of ethics concerning officers and employees of the federation and credit unions and of officers of other legal persons belonging to the group.

2000, c. 29, s. 346.