474. Despite section 473, a financial services cooperative may acquire and hold up to all the contributed capital securities issued by a legal person or a partnership, up to all the participations in a trust or a share of a right of ownership in cases where the cooperative will be the holder of control of the person, partnership, trust or property after the acquisition and in the cases determined by government regulation.
A credit union that is a member of a federation may not make an acquisition under this section without the federation’s authorization.
2000, c. 29, s. 474; 2002, c. 70, s. 171; 2018, c. 232018, c. 23, s. 2911.