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I-13.2.2 - Deposit Institutions and Deposit Protection Act

Section 28.57
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Full text
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. 23, s. 353.
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