JCA-Incorporation of Co-operatives

To Whom Does This Apply?

Summary

Under the Act, a co-operative may be incorporated by any three or more persons of the age of majority. Any three or more associations incorporated under the Act may also incorporate a co-operative.

Under the Act, a co-operative can be incorporated with or without capital divided into shares.  In a co-operatives without share capital, also termed "co-operatives limited by membership", members have to pay membership fees as opposed to paying shares.

Each member has only one vote. Members receive part of the surplus in proportion to the volume of business they have done with or through their co-operative.

For more information on the Act , consult the New Brunswick page of the Co-operatives Secretariat Web site at:  http://www.agr.gc.ca/policy/coop/kitcoop/index.html or consult the Department of Justice and Consumer Affairs Web site at: http://www.gnb.ca/0062/acts/index-e.asp.   Forms are available at the Service New Brunswick Web site at: https://www.web11.snb.ca/snb7001/e/2000/2222e.asp

DISCLAIMER
Information contained in this section is of a general nature only and is not intended to constitute advice for any specific fact situation. For particular questions, the users are invited to contact their lawyer. For additional information, see contact(s) listed below.

New Brunswick Contact(s):
Ms. Claire Gagnon
Co-operative and Credit Union Officer
Co-operatives and Credit Unions Branch
Justice and Consumer Affairs
Kings Place
440 King Street
P. O. Box 6000
Fredericton, New Brunswick  E3B 5H1
Telephone: (506) 444-4826
Fax: (506) 453-7474
E-mail: claire.gagnon@gnb.ca