Canada Cooperatives Act

Version of section 281 from 2003-01-01 to 2011-11-28:


Marginal note:If receiver appointed by court

  •  (1) A receiver or receiver-manager appointed by a court must act in accordance with any directions of the court.

  • Marginal note:If receiver appointed pursuant to instrument

    (2) A receiver or receiver-manager appointed pursuant to an instrument must act in accordance with the instrument and any direction that the court may make under section 282.

  • Marginal note:Duty

    (3) A receiver or receiver-manager must

    • (a) act honestly and in good faith; and

    • (b) deal with any property of the cooperative in their possession or control in a commercially reasonable manner.

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