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Canada Cooperatives Act

Version of section 221 from 2018-05-01 to 2024-05-28:


Marginal note:Definition of appropriate

  •  (1) In this section, section 222, subsections 229(1) and 237(1) and section 241, appropriate, with respect to a person, means that the person is

    • (a) the person who is specified by the security or by a special endorsement to be entitled to the security;

    • (b) if a person described in paragraph (a) is described as a fiduciary but is no longer serving as one, either that person or their successor;

    • (c) if the security or endorsement mentioned in paragraph (a) specifies more than one person as fiduciaries and one or more of those persons is no longer a fiduciary, the remaining fiduciary or fiduciaries, whether or not a successor has been appointed or qualified;

    • (d) if a person described in paragraph (a) is an individual and is without capacity to act by reason of death, minority or incapability, the person’s fiduciary;

    • (e) if the security or endorsement mentioned in paragraph (a) specifies more than one person with right of survivorship and by reason of death not all of the persons can sign, the survivor or survivors;

    • (f) a person who has the legal power to sign; or

    • (g) to the extent that a person described in any of paragraphs (a) to (f) may act through an agent or mandatary, the person’s authorized agent or mandatary.

  • Marginal note:Time for determination

    (2) The authority of a person signing is determined as of the time of signing.

  • 1998, c. 1, s. 221
  • 2018, c. 8, s. 68

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