Cooperative Credit Associations Act

Marginal note:Presumption of receipt

• 455 (1) A notice or document sent by mail in accordance with section 453 to a director, member or shareholder is deemed to be received by the director, member or shareholder at the time it would be delivered in the ordinary course of mail unless there are reasonable grounds for believing that the director, member or shareholder did not receive the notice or document at that time or at all.

• Marginal note:Undelivered notices

  (2) If an association sends a notice or document to a member or shareholder in accordance with section 453 and the notice or document is returned on three consecutive occasions because the member or shareholder cannot be found, the association is not required to send any further notices or documents to the member or shareholder until informed in writing of the member’s or shareholder’s new address.