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S-24 - Act respecting cooperative agricultural associations

Section 3
Disposition versions

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3. The association shall consist of at least twenty-five persons who sign a declaration in conformity with form No. 1. Such persons shall be designated by the name of “shareholder-producers”. An association for a special object may, however, with the approval of the Minister of Financial Institutions and Cooperatives, be formed of a number of persons less than twenty-five.
The association may allow any persons to join it who, designated by the name of “affiliated producers”, shall have become members upon the payment of an annual contribution of two dollars. The affiliated producers shall be subject to the obligations and may benefit from the advantages which, in both cases, shall be determined by the board of directors. They shall neither attend nor vote at general meetings.
The association shall also include the subscribers to preferred shares, who shall be subject to the provisions of the second paragraph of subsection 1 of section 5.
R. S. 1964, c. 124, s. 3; 1966-67, c. 72, s. 23; 1975, c. 76, s. 11; 1981, c. 9, s. 24.
3. The association shall consist of at least twenty-five persons who sign a declaration in conformity with form No. 1. Such persons shall be designated by the name of “shareholder-producers”. An association for a special object may, however, with the approval of the Minister of Consumer Affairs, Cooperatives and Financial Institutions, be formed of a number of persons less than twenty-five.
The association may allow any persons to join it who, designated by the name of “affiliated producers”, shall have become members upon the payment of an annual contribution of two dollars. The affiliated producers shall be subject to the obligations and may benefit from the advantages which, in both cases, shall be determined by the board of directors. They shall neither attend nor vote at general meetings.
The association shall also include the subscribers to preferred shares, who shall be subject to the provisions of the second paragraph of subsection 1 of section 5.
R. S. 1964, c. 124, s. 3; 1966-67, c. 72, s. 23; 1975, c. 76, s. 11.
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