Cooperative Credit Associations Act

Marginal note:Reliance on statement

215 A director, an officer or an employee of an association is not liable under subsection 168(1) or (2) or section 211 or 214 or subsection 430(1) if the director, officer or employee relies in good faith on

• (a) financial statements of the association represented to the director, officer or employee by an officer of the association or in a written report of the auditor of the association fairly to reflect the financial condition of the association; or

• (b) a report of an accountant, lawyer, notary or other professional person whose profession lends credibility to a statement made by the professional person.