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Special cases for redeeming shares

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The minimum holding period for shares of CRCD is seven (7) years. However, in certain special cases, you may request that your shares be redeemed or purchased by agreement by CRCD before the redemption eligibility date.

To do this, you must show proof that you meet the requirements for the particular reason you are making the request.

Within thirty (30 ) days of subscribing

Requirements
Must have acquired the share or fractional share from CRCD.
The request for redemption must be signed by the shareholder and addressed to CRCD within thirty (30) days of the subscription date.

Proof required
Nil

No tax credit (shareholder has not received the tax credit)

Requirements
Must have subscribed for shares without being entitled to the tax credit in respect of such shares, provided that the shareholder’s spouse has not benefited from the transfer of the unused portion of the tax credit with respect to the acquisition of the shares.

Proof required and comments
Copy of Québec income tax return and notice of assessment or other document delivered by the Ministère du Revenu du Québec indicating value of tax credit granted to shareholder for the year in which the shares were acquired.
AND
In the event that the shareholder had a spouse at the end of the year in which the shares were acquired, the notice of assessment or any other document delivered by the Ministère du Revenu du Québec indicating the unused portion of the shareholder’s tax credits which has been used to reduce the spouse’s income tax payable for the year.

Death

Requirements
The request for redemption must be made to CRCD.

Proof required
Proof of death of the shareholder (attestation of death by a physician, or death certificate from a funeral director or copy of act of death issued by the government).
AND
Original or true copy (certified photocopy) of will (will search and probate may be required) or marriage contract if it contains a testamentary provision or, failing the above documents, sworn declaration of transmission by death.

Severe and permanent mental or physical disability preventing the shareholder from working

Requirements
Must have become disabled after shares were issued.
If shareholder is under 60:
Must be regularly incapable of holding any substantially gainful occupation.
If the shareholder is 60 or over:
Must be regularly incapable of carrying on the substantially gainful occupation held at the time the shareholder ceased working owing to the disability.
The request for redemption must be made to CRCD.

Proof required
Proof of substantially gainful occupation held.
AND
Notice of acceptance as disabled contributor by the Régie des rentes du Québec.
OR
Declaration signed by the shareholder and the shareholder’s physician regarding the shareholder’s severe and permanent disability.

Emigration from Canada

Requirements
Must have emigrated permanently from Canada.

Proof required and comments
Visa or immigration certificate for another country.
AND
Copy of lease or deed of purchase of a residence outside Canada or proof of employment in another country.

Terminal illness

Requirements
Must be suffering from a terminal illness.

Proof required and comments
Confirmation from attending physician.

Urgent need of cash

To pay an extraordinary and unforeseen expense needed for the health of the shareholder or one of his or her dependants.
OR
To replace essential property that has been accidentally destroyed or damaged and for which the shareholder has not received any compensation.

Requirements
Must have an urgent need for cash.
AND
Must have liquidated other redeemable investments (the purchase of the shares being a last resort).
AND
In the case of an extraordinary and unforeseen expense, must have been obliged to incur it for the health of the shareholder or one of his or her dependents.
In the case of replacement of essential property, have suffered a loss that destroyed or damaged the property.

Proof required and comments
Declaration proving the financial situation of the shareholder and, if applicable, of his or her spouse (family income, expenditures and net worth).
AND
Proof that liquid investments have been cashed.
AND
In the case of an extraordinary expense, proof of the expense and proof of its unforeseen character and that it is needed for the health of the shareholder or, as the case may be, for the health of any of his or her dependants. In the case of the replacement of essential property, proof of the loss, the essential character of the property and the absence of compensation.

Making a request for redemption to CRCD (other than redemption after 7 years)…

In all special cases, requests must be addressed to CRCD in writing and sent together with all relevant proof and documents to the following address:

Capital régional et coopératif Desjardins
2 Complexe Desjardins
P.O. Box 760, Desjardins Station
Montréal, Québec H5B 1B8

Or by fax to:

514 286 7876 or 1 800 263 7876

What is the redemption delay in special cases?

If the request is accepted, the delay for redeeming shares is generally no longer than 30 days after receipt of all of the required documents.