Part 5 — Capital Structure Division 1 Membership Capital
113 Charge on investment shares
cooperative has a charge on an investment share registered in the
name of an investment shareholder or the legal representative of an
investment shareholder for a debt obligation of the investment
shareholder to the cooperative, including an amount in respect of
an investment share issued by a corporation that is unpaid as of the
date the corporation is continued under this Act.
(2) A cooperative may enforce a charge referred to in subsection
(1) in accordance with its bylaws.
(3) If the articles of a cooperative provide that investment shares
are subject to the charge referred to in subsection (1), the
cooperative or transferor, as the case may be, must bring to the
attention of a subscriber or transferee that the investment shares
will be subject to the charge referred to in subsection (1).