Part 14 — Winding-up, Liquidation and Dissolution of Cooperatives Division 1 Receivers and Receiver-Managers
321 Duties of liquidator
(a) give notice of the appoint ment to each claimant and creditor
known to the liquidator;
(b) publish notice of the appointment in a publication general ly
available to the public and take reasonable steps to give
notice of the appointment in each province or other
jurisdiction where the cooperative carries on business,
requiring
(i) any person who is indebted to the cooperative to render
an account and pay any amount owing to the liquidator
at the time and place specified,
(ii) any person who possesses property of the cooperative to
deliver it to the liquidator at the time and place specified,
and
(iii) any person who has a cl aim against the cooperative,
whether liquidated, unliquidated, future or contingent, to
present particulars of it in writing to the liquidator not
later than 2 months after the first publication of the
notice;
(c) take the property of the cooperative into custody and
control;
(d) open and maintain a trust account for money received by the
liquidator in the course of the liquidation;
(e) keep accounts of the money of the cooperative received and
paid out in the course of the liquidation;
(f) maintain separate lists o f the members, investment
shareholders and creditors and other persons who have
claims against the cooperative;
(g) if at any time the liquidato r determines that the cooperative
is unable to pay or adequately provide for the discharge of
its obligations, apply to the Court for directions;
(h) deliver to the Court and to the Registrar, at least once in
every 12-month period after appointment, or more often as
the Court may require, financial statements of the
cooperative in the form required by section 228 or in any
other form that the liquidator may think proper or that the
Court may require;
(i) after the final accounts are approved by the Court, distribute
any remaining property of the cooperative among the
members and investment shareholders according to their
respective rights in accordance with the articles.
2001 cC-28.1 s321;2022 c16 s3(91)