Part 14 — Winding-up, Liquidation and Dissolution of Cooperatives Division 1 Receivers and Receiver-Managers
308 Proposing liquidation and dissolution
proposal in accordance with the regulations for, the voluntary
liquidation and dissolution of a cooperative.
(2) Notice of any meeting of the cooperative at which voluntary
liquidation and dissolution is to be proposed must set out the terms
of the proposal.
(3) A cooperative may liquidate and dissolve by
(a) a special resolution of the members, and
(b) if the cooperative has issued investment shares, by a
separate special resolution of the investment shareholders of
each class, whether or not they are otherwise entitled to
vote.
(4) A statement of intent to dissolve in the form set by the
Registrar must be sent to the Registrar.
(5) On receipt of a statement of intent to dissolve, the Registrar
must issue a certificate of intent to dissolve.
(6) On the issue of a certificate of intent to dissolve, the
cooperative must cease to carry on business except to the extent
necessary for the liquidation, but its corporate existence continues
until the Registrar issues a certificate of dissolution.
2001 cC-28.1 s308;2022 c16 s3(91)