Part 12 — Fundamental Changes
265 Proposal to amend
regulations may make a proposal pursuant to the regulations to
amend the articles, with any modifications that the circumstances
require, at any meeting of the cooperative at which the proposal is
to be considered.
(2) Notice of the meeting of a cooperative at which a proposal to
amend the articles is to be considered must set out the proposed
amendment and, if applicable, state that a dissenting shareholder is
entitled to the benefit of section 277, but failure to make that
statement does not invalidate an amendment.
(3) Repealed 2022 c16 s3(48).
(4) A proposed amendment to the articles referred to in subsection
(1) is adopted when approved by a special resolution of the
members and, subject to section 116, if the cooperative has issued
investment shares, by a separate special resolution of the
investment shareholders or the holders of a class or series of
investment shares.
(5) Each investment share that is affected by a proposed
amendment to the articles carries the right to vote in accordance
with section 116.
2001 cC-28.1 s265;2022 c16 s3(48)