Part 5 — Capital Structure Division 1 Membership Capital
121 Other additions to stated capital account
this Act, it may add to a stated capital account any money, or the
value of any thing or service, received by it for an investment share
it has issued.
(2) When an extra-provincial cooperative is continued under this
Act, section 120(2) does not apply to the money, or the value of
things or services, received by it before it was so continued unless
the investment share in respect of which the money, thing or
service was received is issued after the extra-provincial cooperative
is continued.
(3) When an extra-provincial cooperative is continued under this
Act, any amount unpaid in respect of an investment share issued by
the extra-provincial cooperative before it was so continued and
paid after it was so continued is added to the stated capital account
maintained for the investment shares of that class or series.
(4) For the purposes of sections 129(2), 133, 136 and 274(2)(d),
when an extra-provincial cooperative is continued under this Act,
its stated capital account is deemed to include the amounts that
would have been included if the extra-provincial cooperative had
been incorporated under this Act.
(5) When a cooperative is continued under this Act, section 120(6)
applies if the cooperative has membership shares with a par value.
(6) A cooperative must not reduce its stated capital or any stated
capital account except in the manner provided for in this Act.
2001 cC-28.1 s121;2022 c16 s3(30)