Cooperative Credit Associations Act
235. (1) An association shall prepare and maintain records containing
(a) its incorporating instrument and the by-laws of the association and all amendments thereto;
(b) minutes of meetings and resolutions of members and shareholders;
(c) the information referred to in paragraphs 432(1)(a) and (c) to (g) contained in all returns provided to the Superintendent pursuant to section 432;
(d) particulars of any authorizations, conditions and limitations established by the Superintendent pursuant to section 61 or subsection 62(1) or that are from time to time applicable to the association; and
(e) written approvals of the Minister and the Superintendent relating to special resolutions of members and shareholders and changes in the by-laws of the association.
Marginal note:Additional records
(2) In addition to the records described in subsection (1), an association shall prepare and maintain adequate
(a) corporate accounting records;
(b) records containing minutes of meetings and resolutions of the directors and any committee thereof; and
(c) records showing, for each member and customer of the association, on a daily basis, particulars of the transactions between the association and that member and customer and the balance owing to or by the association in respect of that member or customer.
Marginal note:Amalgamated and former-Act associations
(3) For the purposes of paragraph (1)(b) and subsection (2),
(a) in the case of a body corporate amalgamated and continued as an association under this Act, “records” includes similar records required by law to be maintained by the body corporate before it was so amalgamated; and
(b) in the case of the former-Act association, “records” includes similar records required by law to be maintained by the association before the coming into force of this section.
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