D-7 - Act respecting municipal debts and loans

Section 37 Disposition versions

2016-05-18

37. The moneys managed by the Minister of Finance in conformity with this division shall bear interest, compounded yearly, from the date of their deposit, at a rate which the Government may fix from time to time and which shall not be less than one and one-half per cent per annum nor more than three and one-half per cent per annum.

At maturity of the loan or of the bonds, such moneys, together with the interest accrued, shall be paid over, by the Minister of Finance, to the order of the bank or banks where the loan or the bonds are payable.

R. S. 1964, c. 171, s. 36; 1966-67, c. 54, s. 2; 1977, c. 5, s. 14; 2016, c. 7, s. 183.

1977-12-31

37. The moneys deposited in conformity with this division shall bear interest, compounded yearly, from the date of their deposit, at a rate which the Government may fix from time to time and which shall not be less than one and one-half per cent per annum nor more than three and one-half per cent per annum.

At maturity of the loan or of the bonds, such moneys, together with the interest accrued, shall be paid over, by the Ministère des Finances, to the order of the bank or banks where the loan or the bonds are payable.

R. S. 1964, c. 171, s. 36; 1966-67, c. 54, s. 2; 1977, c. 5, s. 14.