Part 1 — Incorporating a Cooperative Division 1 Application to Incorporate
28 Record keeping
records at its registered office or at any other place in Alberta
designated by the directors:
(a) the cooperative's articles and bylaws, including any
amendments, and a copy of any unanimous agreement;
(b) the minutes of meetings of the members and investment
shareholders;
(c) copies of all notices of wh o is a director and notices of
change of directors;
(d) a list of its members in a members register, setting out their
names and addresses, the number of any membership shares
owned and the amount of any member loans;
(e) a list of its investment shareholders, setting out their names
and addresses and the number of investment shares owned;
(f) a register of its director s, setting out the names and
addresses of the individuals who are or who have been
directors and the dates on which they became or ceased to
be directors;
(g) if the cooperative issues s ecurities in registered form, a
securities register that complies with section 167.
(2) In addition to the records under subsection (1), a cooperative
must prepare and maintain adequate
(a) accounting records,
(b) records containing minutes of meetings and resolutions of
directors and any committee of directors, and
(c) records sufficient for the purpose of calculating patronag e
returns that show for each member particulars of the
transactions between the cooperative and the member.
(3) A cooperative may keep all or any of the records mentioned in
subsections (1)(a), (b), (c) and (f) and (2)(a) and (b) at a place other
than its registered office if the records are available for inspection
during regular office hours at the registered office or another office
in Alberta by means of electronic technology, in which case the
cooperative must provide a means by which the records can be
accessed.
(4) Subject to any other enactment that provides for a longer
retention period, a cooperative must retain its accounting records
for a period of 6 years after the end of the financial year to which
they relate.
(5) For the purposes of subsection (1)(b) and subsections (2) to (4),
"records" includes similar records required by law to be maintained
by a cooperative before it was continued under this Act.
(6) Unless the bylaws provide otherwise, the records described in
this section, other than those described in subsection (2)(c), must
be open for inspection by the directors at any reasonable time.
(7) Members, creditors and investment shareholders of the
cooperative, their legal representatives and the Registrar may
examine the records referred to in subsection (1)(a), (b), (c) and (f)
during the cooperative's usual business hours and may take extracts
from the records, free of charge, or have copies of them made after
payment of a reasonable fee.
2001 cC-28.1 s27;2022 c16 s3(91)