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Co-operative Associations Loans and Loans Guarantee Act (C.C.S.M. c. C220).

Country/Territory
Canada
Document type
Legislation
Date
1987 (2002)
Source
FAO, FAOLEX
Subject
Agricultural & rural development
Keyword
Cooperative/producer organization Financial agricultural measures Credit
Geographical area
Americas, Arctic, Asia and the Pacific, East Pacific, North America, North Atlantic
Entry into force notes
The present Act enters into force on 1 February 1988.
Abstract

The prresent Act establishes that the Board known as the Co-operative Loans and Loans Guarantee Board is hereby continued. Section 5 establishes that where a co-operative association borrows money for a period not exceeding 10 years and the Association, by such evidence as the Board may require, proves to the satisfaction of the Board that the money is required to assist the Association in carrying out its aims and objects and for productive purposes, the Board may guarantee the repayment of the whole or part of the money borrowed by the Association and interest thereon subject to such terms and conditions as the Board may see fit to impose. Section 9 specifies that the Board shall report annually to the Minister respecting its transactions under this Act and the Minister shall table the report of the Board in the Legislature if it is then in session and if not then within 15 days of the commencement of the next ensuing session thereof. The text consists of 11 sections.

Full text
English/French
Website
www.gov.mb.ca

References - Legislation

Implements

Cooperatives Act (C.C.S.M. c. C223).

Legislation | Canada | 1998 (2017)

Keyword: Agricultural development, Cooperative/producer organization, Basic legislation, Registration, Credit, Business/industry/corporations, Governance, Certification, Offences/penalties, Inspection, Legal proceedings/administrative proceedings

Source: FAO, FAOLEX