Cooperative Credit Associations Act

Marginal note:Members

• 41 (1) Only a person that is an association, a federal credit union, a central cooperative credit society, a local cooperative credit society, a cooperative corporation, a federal or provincial league or an unincorporated organization consisting wholly of any of those entities may be admitted to membership in an association.

• Marginal note:Condition for membership

  (2) No person shall be admitted to membership in an association until the person’s application for membership has been approved by the directors and the person has complied fully with any by-law governing admission of members.

• (3) [Repealed, 2001, c. 9, s. 264]

• (4) [Repealed, 1994, c. 47, s. 50]

• Marginal note:Membership not transferable

  (5) No transfer of a membership is valid for any purpose.