C-4.1 - Savings and Credit Unions Act

Section 90 Disposition versions

1997-02-15

90. To be a member of a credit union, a person, including a partnership, must

(1)  have his or its domicile, a residence, an establishment or regular work in the territory of the credit union or belong to the group described in the articles of incorporation;

(2)  except in the case of a founder, apply for membership;

(3)  subscribe and pay for the number of qualifying shares prescribed by by-law of the credit union or, in the absence of such a by-law, one qualifying share;

(4)  undertake to comply with the by-laws of the credit union;

(5)  except in the case of a founder, be admitted by the board of directors or by a person authorized by it.

1988, c. 64, s. 90; 1996, c. 69, s. 21.

1989-03-15

90. To be a member of a credit union, a person, including a partnership, must

(1)  have his or its domicile, a residence, a place of business or regular work in the territory of the credit union or belong to the group described in the articles of incorporation;

(2)  except in the case of a founder, apply for membership;

(3)  subscribe and pay for the number of qualifying shares prescribed by by-law of the credit union or, in the absence of such a by-law, one qualifying share;

(4)  undertake to comply with the by-laws of the credit union;

(5)  except in the case of a founder, be admitted by the board of directors or by a person authorized by it.

1988, c. 64, s. 90.