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C-4.1 - Savings and Credit Unions Act

Section 309
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309. Divisions II and III of the Winding-up Act (chapter L-4) apply to the winding-up of any credit union, subject to the provisions of this chapter.
For the purposes of the application of the said Act to a credit union, the word “company”, in the said Act, means a credit union, the word “shareholder” means a member of the credit union and, where a provision of the said Act requires the vote of the shareholders representing a specified proportion of the capital stock of a company, that provision is deemed to require the vote of a number of members of the credit union corresponding to the specified proportion in value.
1988, c. 64, s. 309.
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