Cooperative Credit Associations Act

Marginal note:Mandatory solicitation

• 166.04 (1) Subject to subsection 148(2) and subsection (2), the management of an association shall, concurrently with giving notice of a meeting of shareholders, send a form of proxy in prescribed form to each shareholder entitled to receive notice of the meeting.

• Marginal note:Exception

  (2) The management of an association is not required to send a form of proxy under subsection (1) if the association

  • (a) is not a distributing association; and

  • (b) has 50 or fewer shareholders who are entitled to vote at a meeting, two or more joint holders of a share being counted as one shareholder.