156 (1) Any two or more co-operatives may amalgamate and continue as one co-operative.  R.S.O. 1990, c. C.35, s. 156 (1). Agreement (2) The co-operatives proposing to amalgamate shall enter into an agreement for the amalgamation, prescribing the terms and conditions of the amalgamation and the mode of carrying the amalgamation into effect, and, in particular the agreement shall set out, as may be applicable, (a)  the name of the amalgamated co-operative; (b)  the objects of the amalgamated co-operative; (c)  the place in Ontario where the head office of the amalgamated co-operative is to be located, giving the municipality and the upper-tier municipality or, where the head office is to be located in territory without municipal organization, the geo­graphic township and district, and the address giving the street and number, if any; (d)  the authorized capital of the amalgamated co-operative, the classes and series, if any, of shares into which it is to be divided, the number of shares of each class and series and the par value of each share; (e)  if there are to be preference shares, the designations, preferences, rights, conditions, restrictions, limitations and prohibitions attaching to them and to each series, in so far as they have been fixed by the directors; (f)  the restrictions, if any, to be placed on the transfer of member loans or of its shares or any class thereof of the amalgamated co-operative; (g)  the authorized loan capital of the amalgamated co-operative; (h)  the amount of membership fee and the classes of membership, if any, setting forth the designation of and the terms and conditions attaching to each class of membership in the amalgamated co-operative; (i)  the names in full and the residence address, giving the street and number, if any, of each person who is to be a first director of the amalgamated co-operative; (j)  the time and manner of election of the subsequent directors of the amalgamated co-operative; (k)  whether or not the by-laws of the amalgamated co-operative are to be those of one of the amalgamating co-operatives and, if not, a copy of the proposed by-laws of the amalgamated co-operative; (l)  the manner in which the issued shares of each of the amalgamating co-operatives are to be converted into issued shares of the amalgamated co-operative; (m)  the manner of conversion of the loan and share capital, as the case may be, of the amalgamating co-operatives into the loan and share capital, as the case may be, of the amalgamated co-operative; (n)  such other details as may be necessary to perfect the amalgamation and to provide for the subsequent management and operation of the amalgamated co-operative.  R.S.O. 1990, c. C.35, s. 156 (2); 2002, c. 17, Sched. F, Table; 2004, c. 31, Sched. 8, s. 29 (1). Shares of amalgamating co-operative held by another (3) Where shares of one of the amalgamating co-operatives are held by or on behalf of another of the amalgamating co-operatives, the amalgamation agreement shall provide for the cancellation of such shares upon the amalgamation becoming effective without any repayment of capital in respect thereof, and no provision shall be made in the agreement for the conversion of such shares into shares of the amalgamated co-operative.  R.S.O. 1990, c. C.35, s. 156 (3). Treatment of patronage loans (4) The member or patronage loans, if any, of the amalgamating co-operatives shall represent liabilities of the amalgamated co-operative.  R.S.O. 1990, c. C.35, s. 156 (4). Approval of agreement (5) An amalgamation agreement is not effective until approved by a special resolution of each of the amalgamating co-operatives.  R.S.O. 1990, c. C.35, s. 156 (5). Approval by holders of preference shares (6) An amalgamation agreement is not effective until it has been confirmed in the manner provided in subsections 151 (4) and (4.1), with necessary modifications, in addition to the approval required by subsection (5), if carrying out the amalgamation agreement would result in the deletion or variation of a preference, right, condition, restriction, limitation or prohibition attaching to a class or series of preference shares of any of the amalgamating co-operatives or in the creation of preference shares of the amalgamated co-operative ranking in any respect in priority to, or in parity with, any existing class or series of preference shares of any of the amalgamating co-operatives.  2004, c. 31, Sched. 8, s. 29 (2). Non-profit housing co-operatives (7) Despite subsection (1), a non-profit housing co-operative may not amalgamate except in accordance with subsection (8).  1992, c. 19, s. 21. Idem (8) A non-profit housing co-operative may amalgamate with another non-profit housing co-operative but only if, (a)  each co-operative has been a non-profit housing co-operative either since it came into existence or since the 2nd day of October, 1992; and (b)  the co-operatives are continued after the amalgamation as a non-profit housing co-operative.  1992, c. 19, s. 21. Section Amendments with date in force (d/m/y) 1992, c. 19, s. 21 - 24/08/1992 2002, c. 17, Sched. F, Table - 1/01/2003 2004, c. 31, Sched. 8, s. 29 (1, 2) - 31/08/2007