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.

Marginal note:Application

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.

Marginal note:By-laws

• 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.