Cooperative Credit Associations Act

Marginal note:Resolution in lieu of meeting

• 161 (1) Except where a written statement is submitted by a director under section 181 or by an auditor under subsection 305(1),

  • (a) a resolution in writing signed by all the persons entitled to vote on that resolution at a meeting of members or shareholders is as valid as if it had been passed at such a meeting; and

  • (b) a resolution in writing dealing with all matters required by this Act to be dealt with at a meeting of members or shareholders, and signed by all the persons entitled to vote at that meeting, satisfies all the requirements of this Act relating to meetings.

• Marginal note:Filing resolution

  (2) A copy of every resolution referred to in subsection (1) shall be kept with the minutes of the meetings.