S-38 - Cooperative Syndicates Act

Section 30 Disposition versions

1977-12-31

30. The meeting which decides upon the liquidation shall appoint, by a mere majority vote, one or three liquidators who shall be entitled to immediate possession of the property of the association.

The provisions of Division II of the Winding-Up Act (chapter L-4) shall apply to such liquidators so appointed.

As soon as dissolution has been voted by the meeting, every action or proceeding, whether by way of seizure by garnishment, seizure before judgment or seizure in execution, or otherwise, against the moveables or immoveables of the association, must be suspended.

The costs made by a creditor after he has had knowledge of the dissolution, by himself, by his attorney or by the bailiff, cannot be collocated on the proceeds of the property of the association, which are distributed in consequence of the dissolution.

The judge of the Superior Court of the district in which the association is located may, however, on such conditions as he may deem proper, authorize any action or the continuance of proceedings begun.

R. S. 1964, c. 294, s. 30; 1965 (1st sess.), c. 80, a. 1.