Canada Cooperatives Act
Version of section 123 from 2011-11-29 to 2024-10-30:
Marginal note:Charge, lien or hypothec on membership shares for amounts
123 (1) A cooperative has a charge, lien or hypothec on a membership share or any amount standing to the credit of a member or the personal representative of a member for a debt of that member to the cooperative.
Marginal note:Enforcement of charge
(2) A cooperative may
(a) enforce a charge, lien or hypothec referred to in subsection (1) in the manner set out in its by-laws; or
(b) apply any moneys standing to the credit of a member toward payment of a debt due by the member to the cooperative.
- 1998, c. 1, s. 123
- 2001, c. 14, s. 175
- 2011, c. 21, s. 79
- Date modified: