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D-7 - Act respecting municipal debts and loans

Section 38
Disposition versions

Full text
38. The moneys managed by the Minister of Finance in conformity with this division and the interest accrued thereon shall be unseizable, save and except in execution of a final judgment from a competent court rendered in favor of the lender, or of one or more of the bondholders, for whose benefit the sinking fund has been created.
The moneys seized shall be distributed rateably amongst all the holders of the bonds.
R. S. 1964, c. 171, s. 37; 2016, c. 7, s. 183.
38. The moneys deposited in conformity with this division and the interest accrued thereon shall be unseizable, save and except in execution of a final judgment from a competent court rendered in favor of the lender, or of one or more of the bondholders, for whose benefit the sinking fund has been created.
The moneys seized shall be distributed rateably amongst all the holders of the bonds.
R. S. 1964, c. 171, s. 37.
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