Part 16 — Remedies, Offences and Penalties Division 1 Court Intervention
355 Commencing derivative legal proceedings
Court for permission to bring legal proceedings in the name and on
behalf of a cooperative, or to intervene in legal proceedings to
which the cooperative is a party, for the purpose of prosecuting,
defending or discontinuing the legal proceedings on behalf of the
cooperative.
(2) No permission is to be granted unless the Court is satisfied that
(a) the complainant has given r easonable notice to the directors
of the cooperative of intention to apply to the Court under
subsection (1) if the directors of the cooperative do not
bring, diligently prosecute, defend or discontinue the action,
(b) the complainant is acting in good faith, and
(c) it appears to be in the int erests of the cooperative that the
action be brought, prosecuted, defended or discontinued.
2001 cC-28.1 s355;2014 c13 s22