43. The board of directors may confiscate the qualifying shares of a member if an instalment two years or more overdue has not been paid within two months from the sending of a demand for payment of the instalment. The demand for payment must be made by certified or registered letter.
Confiscation of the shares entails the expulsion of the member.
1982, c. 26, s. 43; 1995, c. 67, s. 24.