Acts and Regulations

C-13 - Companies Act

Full text
Assessment of members
17(1)At any meeting of such club or association duly called for the purpose, a by-law may be passed to authorize the making of assessments upon its members for such sum or sums as are deemed necessary for the maintenance and support of the association, and prescribing the mode in which such assessment shall be made and paid, and how payment thereof may be enforced and what penalties, if any, as respects loss of membership and forfeiture of shares attaches to non-payment of such assessments.
17(2)The liability of members to be assessed for the purposes aforesaid attaches, if the by-law so prescribes, to membership in the association, whether the stock of the association is fully paid up or otherwise, and is a liability upon all members of the association, independent of, and in addition to, the liability at law in respect of unpaid stock.
R.S., c.33, s.17
Assessment of members
17(1)At any meeting of such club or association duly called for the purpose, a by-law may be passed to authorize the making of assessments upon its members for such sum or sums as are deemed necessary for the maintenance and support of the association, and prescribing the mode in which such assessment shall be made and paid, and how payment thereof may be enforced and what penalties, if any, as respects loss of membership and forfeiture of shares attaches to non-payment of such assessments.
17(2)The liability of members to be assessed for the purposes aforesaid attaches, if the by-law so prescribes, to membership in the association, whether the stock of the association is fully paid up or otherwise, and is a liability upon all members of the association, independent of, and in addition to, the liability at law in respect of unpaid stock.
R.S., c.33, s.17