Canada Cooperatives Act
Marginal note:Heirs and representatives
326 (1) In this section, “member” and “shareholder” include their heirs and personal representatives.
Marginal note:Continuation of actions
(2) Despite the dissolution of a cooperative under this Act,
(a) a civil, criminal, administrative, investigative or other action or proceeding commenced by or against the cooperative before its dissolution may be continued as if it had not been dissolved;
(b) a civil, criminal, administrative, investigative or other action or proceeding may be brought against the cooperative within two years after its dissolution as if it had not been dissolved; and
(c) any property that would have been available to satisfy a judgment or order if the cooperative had not been dissolved remains available for those purposes.
(3) Service of a document on a cooperative after its dissolution may be effected by serving the document on a person named in the last notice sent under section 81 or 91.
(4) Despite the dissolution of a cooperative under this Act, a member or shareholder to whom any of its property has been distributed is liable to any person claiming under subsection (2) to the extent of the amount distributed to that member or shareholder. An action to enforce the liability may be brought no later than two years after the date of the dissolution of the cooperative.
Marginal note:Representative action
(5) A court may order an action referred to in subsection (4) to be brought against the persons who were members or shareholders as a class, subject to any conditions that the court thinks fit, and, if the plaintiff establishes a claim, the court may refer the proceedings to a referee or other officer of the court who may
(a) add as a party to the proceedings each member or shareholder who was found by the plaintiff;
(b) determine, subject to subsection (4), the amount that each of those members and shareholders must contribute towards satisfaction of the plaintiff’s claim; and
(c) direct payment of the amounts so determined.
- 1998, c. 1, s. 326
- 2001, c. 14, s. 215
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