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A-24 - Cooperative Associations Act
Section 5
Disposition versions
5. Cooperative associations shall operate in accordance with the following rules of cooperative activity:
(a) the number of members shall not be limited;
(b) a member shall have one vote only, whatever the number of shares that he holds, and shall not vote by proxy;
(c) interest on common shares shall be limited;
(d) the annual operating surplus shall be paid into the general reserve or apportioned or credited to members proportionately to the business carried on by each of them with the association.
