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C-67.3 - Act respecting financial services cooperatives
Section 412
Disposition versions
412. The assets of the funds are not separate from those of the federation. However, the federation’s by‑laws may establish a fund whose assets are separate from those of the federation and shall alone serve to guarantee the obligations contracted for the purposes of the fund.
Where the by-laws of the federation so provide, the assets of a fund may constitute a trust patrimony appropriated to a specified purpose. The federation may acquire the assets of such a fund.
412. The assets of the funds are not separate from those of the federation. However, the federation may, by by-law, establish a fund whose assets are separate from those of the federation and shall alone serve to guarantee the obligations contracted for the purposes of the fund.
Where the by-laws of the federation so provide, the assets of a fund may constitute a trust patrimony appropriated to a specified purpose. The federation may acquire the assets of such a fund.
