I-13.2.2 - Deposit Institutions and Deposit Protection Act

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28.57. Unless the obligations of an authorized Québec deposit institution under the following contracts are minimal, such contracts must be submitted to its board of directors for approval:
(1)  a contract for the acquisition, by the deposit institution, of securities issued by a natural person or group that is a restricted party with respect to the deposit institution or for the transfer of assets between them; and
(2)  a service contract between the deposit institution and a natural person or group that is a restricted party with respect to the deposit institution.
Before approving such contracts, the board of directors shall obtain the opinion of the ethics committee.
2018, c. 232018, c. 23, s. 353.