Part 14 — Winding-up, Liquidation and Dissolution of Cooperatives Division 1 Receivers and Receiver-Managers
327 Heirs and representatives
include their heirs and legal representatives.
(2) Notwithstanding the dissolution of a cooperative under this
Act,
(a) a civil, criminal, administrative, investigative or other action
or proceeding commenced by or against the cooperative
before its dissolution may be continued as if it had not been
dissolved,
(b) a civil, criminal, administrative, investigative or other action
or proceeding may be brought against the cooperative
within 2 years after its dissolution as if it had not been
dissolved, and
(c) any property that would have been available to satisfy a
judgment or order if the cooperative had not been dissolved
remains available for that purpose.
(3) Service of a document on a cooperative after its dissolution
may be effected by serving the document on a person named in the
notice of directors referred to in section 4(c) or the last notice sent
under section 68.
(4) Notwithstanding the dissolution of a cooperative under this
Act, a member or investment shareholder to whom any of its
property has been distributed is liable to any person claiming under
subsection (2) to the extent of the amount distributed to that
member or investment shareholder, but an action to enforce the
liability may be brought no later than 2 years after the date of the
dissolution of the cooperative.
(5) The Court may order an action referred to in subsection (4) to
be brought against the persons who were members or investment
shareholders as a class, subject to any conditions that the Court
thinks fit, and if the plaintiff establishes a claim, the Court may
refer the proceedings to another officer of the Court, who may
(a) add as a party to the proceedings each member or
investment shareholder who was found by the plaintiff,
(b) determine, subject to subsection (4), the amount that each of
those members and investment shareholders must contribute
towards satisfaction of the plaintiff's claim, and
(c) direct payment of the amounts so determined.