Marginal note:Charge on membership shares for amounts
123 (1) A cooperative has a charge on a membership share or any amount standing to the credit of a member or the personal representative of a member for a debt of that member to the cooperative.
Marginal note:Enforcement of charge
(2) A cooperative may
(a) enforce a charge referred to in subsection (1) in the manner set out in its by-laws; or
(b) apply any moneys standing to the credit of a member toward payment of a debt due by the member to the cooperative.
- 1998, c. 1, s. 123
- 2001, c. 14, s. 175
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