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C-4.1 - Savings and Credit Unions Act

Section 492
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492. The Inspector General shall, in addition, make, at the request of a credit union’s board of directors or board of audit and ethics, of 100 of its members if there are 300 members or more or of one-third of its members if there are fewer than 300, or of the federation with which the credit union is affiliated, any examination and any investigation he considers necessary or expedient into the internal affairs and activities of the credit union or cause such examination or investigation to be made.
The Inspector General shall render an account of any examination and any investigation to any member of the credit union who makes the request and to the credit union’s board of audit and ethics, to the federation with which it is affiliated and to the confederation with which the federation is affiliated, where that is the case.
The expenses incurred for any examination or investigation made under this section by the Inspector General shall be charged to the credit union.
1988, c. 64, s. 492; 1996, c. 69, s. 165.
492. The Inspector General shall, in addition, make, at the request of a credit union’s board of directors or board of supervision, of 100 of its members if there are 300 members or more or of one-third of its members if there are fewer than 300, or of the federation with which the credit union is affiliated, any examination and any investigation he considers necessary or expedient into the internal affairs and activities of the credit union or cause such examination or investigation to be made.
The Inspector General shall render an account of any examination and any investigation to any member of the credit union who makes the request and to the credit union’s board of supervision, to the federation with which it is affiliated and to the confederation with which the federation is affiliated, where that is the case.
The expenses incurred for any examination or investigation made under this section by the Inspector General shall be charged to the credit union.
1988, c. 64, s. 492.
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