Hometime

Hometime · Alberta legislation

SS Houses with a Secondary Suite

SS · Cooperatives Act

Part 5 — Capital Structure Division 1 Membership Capital

136 Limitation on paying dividends

Current to 2023-12-07 · Official PDF

A cooperative may not declare or pay a dividend if there are
reasonable grounds to believe that
(a) the cooperative is, or after the payment would be, unable to
pay its liabilities as they become due, or
(b) the realizable value of the cooperative's assets after payment
of the dividend would be less than the total of its liabilities
and the stated capital of all its issued shares.