C-4 - Savings and Credit Unions Act

Section 43 Disposition versions

1977-12-31

43. The annual meeting shall

(a)  examine the annual report;

(b)  deliberate on the operations of the union;

(c)  determine, within the limits provided by law, the maximum amount that the board of directors may borrow unless a special meeting decides otherwise;

(d)  subject to rights acquired by third parties, approve or disallow the decisions of the board of directors whenever two members have lodged an appeal for that purpose;

(e)  elect the members of the board of directors, the committee on credit and the board of supervision;

(f)  determine the minimum interval between audits of the union’s affairs by the board of supervision;

(g)  pronounce upon any other matter of interest to the union.

The annual meeting may also appoint an auditor to audit the annual report contemplated in section 81. Such auditor shall have the powers which section 90 grants to an inspector.

R. S. 1964, c. 293, s. 43; 1970, c. 59, s. 18.