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C-67.3 - Act respecting financial services cooperatives

Section 88
Disposition versions

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88. The board of directors of a credit union must pay into the general reserve, out of the reserve for future dividends or, if that reserve has insufficient funds, out of the stabilization reserve, such sums as are necessary to ensure that the capital of the credit union meets the standards of the federation or that the capital of the credit union, if it is not a member of a federation, is adequate to ensure its sustainability. A credit union that is not a member of a federation is required to comply with the relevant government regulations.
2000, c. 29, s. 88; 2003, c. 20, s. 3; 2018, c. 23, s. 79.
88. The board of directors of a credit union must pay into the general reserve, out of the reserve for future dividends or, if that reserve has insufficient funds, out of the stabilization reserve, such sums as are necessary to ensure that the capital base of the credit union meets the standards of the federation or that the capital base of the credit union, if it is not a member of a federation, is sufficient to ensure sound and prudent management. A credit union that is not a member of a federation is required to comply with the relevant government regulations.
2000, c. 29, s. 88; 2003, c. 20, s. 3.
88. The board of directors of a credit union must pay into the general reserve, out of the stabilization reserve, such sums as are necessary to ensure that the capital base of the credit union meets the standards of the federation or that the capital base of the credit union, if it is not a member of a federation, is sufficient to ensure sound and prudent management. A credit union that is not a member of a federation is required to comply with the relevant government regulations.
2000, c. 29, s. 88.
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