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Canada Cooperatives Act

Version of section 281 from 2011-11-29 to 2024-05-28:


Marginal note:Appointment by court

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

  • Marginal note:Appointment under instrument or act

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

  • Marginal note:Duty

    (3) A receiver, receiver-manager or sequestrator 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.

  • 1998, c. 1, s. 281
  • 2011, c. 21, s. 104(E)

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