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C-4 - Savings and Credit Unions Act

Section 53
Disposition versions

Full text
53. Every director or member of the committee on credit shall be personally liable for the damage caused to the union by his violation of this Act.
He may, however, free himself from such liability by having his dissent recorded in the minutes or by signifying it to the union by registered or certified letter within a reasonable delay from the time when the illegality comes to his notice.
R. S. 1964, c. 293, s. 52; 1975, c. 83, s. 84.
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