36Acceptance of money by proposed co-operative

#### 36 Acceptance of money by proposed co-operative 36 Acceptance of money by proposed co-operative > > (1) A proposed co-operative or any person on its behalf or otherwise who accepts money for the proposed co-operative before the proposed co-operative is registered must hold that money on trust until the co-operative is registered. > > > (2) If a co-operative is not registered within 3 months after the acceptance of money under subsection (1), the proposed co-operative or the person who accepted the money on its behalf must refund the money to the person who paid it. > > Maximum penalty—$6,000.