Marginal note:Alternative resolution
351. The Minister of Agriculture and Agri-Food may, in accordance with any regulations, provide assistance with respect to the alternative resolution of any dispute relating to the affairs of a cooperative.
ADDITIONAL PROVISIONS RESPECTING NON-PROFIT HOUSING COOPERATIVES
352. This Part applies to cooperatives for which articles are issued to carry on business as non-profit housing cooperatives.
Marginal note:Requirement of articles
353. The articles of a non-profit housing cooperative must provide that
(a) the name of the non-profit housing cooperative include the words “non-profit”, “not-for-profit”, “not for profit”, “sans but lucratif” or “à but non lucratif” and “housing cooperative”, “housing co-operative”, “housing co-op”, “coopérative d’habitation”, “coop d’habitation”, “co-op d’habitation”, “coopérative de logement”, “coop de logement” or “co-op de logement”; and
(b) the business of the cooperative is restricted to that of primarily providing housing to its members.
Marginal note:Special limitations
354. The following restrictions apply to a non-profit housing cooperative:
(a) it may not issue investment shares;
(b) it may only issue membership shares on a par-value basis;
(c) it must in each year conduct at least fifty per cent of its business with its members;
(d) subject to subsection 357(2), its business must be carried on without the purpose of gain for its members; and
(e) on its dissolution, and after the payment of its liabilities, its remaining property is to be transferred to or distributed among one or more non-profit housing cooperatives, cooperatives incorporated in a province that have similar objectives and limitations, or charitable organizations.
355. (1) The by-laws of a non-profit housing cooperative must include
(a) any obligation of a member to provide capital to the cooperative and the manner in which the capital is to be contributed;
(b) any obligation of a member to contribute to charges of the cooperative and the manner in which the charges are to be determined and paid;
(c) the procedure for determining disputes between members and between members and the cooperative;
(d) subject to subsection (2), the manner in which the membership of a member may be terminated;
(e) the manner in which a member’s equity is to be determined on the member’s withdrawal from the cooperative, or on the termination of their membership and on a dissolution of the cooperative and the manner in which that equity is to be repaid;
(f) a provision for the establishment of adequate reserves and the maintenance of adequate insurance to protect the cooperative from loss; and
(g) a provision for the establishment of the rules governing charges by the cooperative for the occupation, leasing, subletting and subleasing of housing units of the cooperative.
Marginal note:Termination of membership
(2) If the by-laws provide that membership is to be terminated by the directors, the by-laws must include a right of appeal to the members. Despite section 40, the by-laws may require that an appeal from the decision of the directors may only be launched within seven days after the member receives notice of the termination of membership.
Marginal note:Other provisions in by-laws
(3) The by-laws of a non-profit housing cooperative may provide
(a) the rules by which the directors may establish a system of providing subsidies to members for housing charges, provided that the administration of the rules by the directors is fair as among the members; and
(b) any rules in addition to those specified in paragraph (1)(g) relating to the occupancy of a housing unit of the cooperative.
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