2. The by-laws of the syndicate must provide for the number, which must be of at least three and not more than twenty-five, of directors or administrators to be elected, as well as for the amount of the entrance fee and the assessment payable by the members. The entrance fee shall be one dollar or more and the assessment shall not be less than one dollar per month.
In the case of syndicates of farming operators or producers, the assessment shall not be less than six dollars per annum.
The by-laws may however provide that the payment of the assessment shall be suspended when the employee is unemployed or not employed in his usual occupation.
The Minister of Consumer Affairs, Cooperatives and Financial Institutions, when he deems it in the interest of the syndicate, may authorize the latter to provide, in its by-laws, for a number of directors and administrators above twenty-five.
R. S. 1964, c. 146, s. 2; 1965 (1st sess.), c. 51, s. 2; 1966-67, c. 51, s. 1; 1969, c. 26, s. 115; 1975, c. 76, s. 11.