Bill 14 (Legislature 8, Session 8)

L8 S8 7990

Alberta — Bills

Bill No. 14 of 1939. A BILL TO AMEND THE CREDIT UNION ACT. NOTE. This Bill amends The Credit Union Act so as to permit a person who is a director, officer or member of the Credit Committee or the Supervisory Committee to borrow an amount in excess of his shares and deposits and accumulat ed earnings if such borrowing is approved at a meeting of the members of the Board of Directors and the members of the said committees other than such person by a vote equal to two-thirds of the numher of all such members. R. ANDREW SMITH, Legislative Counsel. (This note does not form any part of the Bill and is offered merely as a partial explanation of some of its provisions.) BILL No. 14 of 1939.

An Act to Amend The Credit Union Act. (Assented to , 1939.) HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. This Act may be cited as "The Credit Union Act Amendment Act, 1939." 2. The Credit Union Act, being

chapter of the Statutes of Alberta, 1938, is hereby amended as to

section by striking out the same and by substituting therefor the following: "33. No person who is a director, officer or member of the Credit Committee or the Supervisory Committee shall borrow in excess of the value of his shares and deposits and accumulated earnings unless such borrowing is ap proved at a meeting of the members of the Board of Directors, the Credit Committee and Supervisory Com mittee other than such person, by a vote which is equal to two-thirds of the number of all such members." 3. This Act shall come into force on the day upon which it is assented to. EIGHTH SESSION EIGHTH LEGISLATURE GEORGE VI BILL

An Act to Amend The Credit Union Act. Received and read the First time ...................................... .. Second time .................................... .. Third time ...................................... .. HON. MR. MANNING. EDMONTON: A. Sftmitka, King's Printer Title: 1939 (8th, 8th) Bill 14,

An Act to Amend The Credit Union Act

Document details

Collection	Alberta — Bills
Citation	L8 S8 7990
Type	bill
Volume / chapter	L8 S8 7990
Language	en
Format	json
Source	PROVINCIAL
Identifier	b2169fea216fdb65483815873f7154eed21db249

Source file is stored in the law ingest library (json).