69 (1) If, at a meeting of members of a co-operative, (a)  a resolution passed by the directors authorizing the sale, lease, exchange or other disposition of all or substantially all the property of the co-operative is confirmed with or without variation by the members; (b)  a resolution approving an agreement for the amalgamation of the co-operative with one or more other co-operatives is passed by the members; (c)  a resolution passed by the directors approving the conversion of the co-operative into a corporation to which the Business Corporations Act applies is confirmed with or without variation by the members; (d)  a resolution passed by the directors approving the conversion of the co-operative into one with or without share capital is confirmed with or without variation by the members; or (e)  a resolution passed by the directors under section 159 is confirmed with or without variation by the members, any member who has voted against the confirmation of the resolution may within ten days after the date of the meeting give notice in writing to the co-operative requiring it to purchase the member’s shares or refund the amount outstanding on loans made to the co-operative by the member together with any interest accrued thereon. Co-operative bound to purchase shares (2) Within ninety days from, (a)  the date of the completion of the sale, lease, exchange or other disposition; (b)  the date set forth in the certificate of amendment or amalgamation; or (c)  the date of delivery to the Minister of a request in writing for the Minister’s authorization under section 159, the co-operative, or amalgamated co-operative, shall purchase the shares of, or refund the amount outstanding on loans made to the co-operative by, every member who has given notice under subsection (1), and every such member shall sell or deliver up the member’s securities to the co-operative.  R.S.O. 1990, c. C.35, s. 69 (1, 2). Purchase price (3) The amount and terms of the purchase of a member’s shares shall be at their fair value, as determined by regulation, or at a lesser amount agreed to by the co-operative and the member, together with the payment of all amounts held to the member’s credit together with interest accrued thereon.  1994, c. 17, s. 22. Idem (4) The amount and terms of the repayment of any loans made by the member to the co-operative shall be at the full amount outstanding together with any interest accrued thereon and unpaid. Saving (5) The co-operative shall not purchase any shares or repay any member’s loans under subsection (2) or (3) if it is insolvent or if the purchase or repayment would render it insolvent. Idem (6) If the sale, lease, exchange or other disposition is not completed, the certificate of amendment or amalgamation is not issued, or the authorization of the Minister is not given, the rights of the dissenting member under this section cease and the co-operative shall not purchase the shares of the member nor refund the amount outstanding on loans made to the co-operative by the member under this section. Idem (7) Nothing in this section shall be construed to require a co-operative to repay a member’s term loan before the date of maturity.  R.S.O. 1990, c. C.35, s. 69 (4-7). Section Amendments with date in force (d/m/y) 1994, c. 17, s. 22 - 23/06/1994