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Canada Cooperatives Act

Version of section 137 from 2011-11-29 to 2022-09-22:


Marginal note:Borrowing

 Unless the articles, the by-laws or a unanimous agreement provide otherwise, the directors may, subject to subsection 126(2), without the authorization of the members or shareholders,

  • (a) borrow money;

  • (b) give debt obligations;

  • (c) give guarantees;

  • (d) create security interests in its property; and

  • (e) despite paragraph 108(e) and subsection 109(3), delegate any power referred to in any of paragraphs (a) to (d).

  • 1998, c. 1, s. 137
  • 2001, c. 14, s. 180
  • 2011, c. 21, s. 83(F)
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