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Canada Cooperatives Act

Version of section 123 from 2003-01-01 to 2011-11-28:

Marginal note:Charge on membership shares for amounts

  •  (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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