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I-13.2.2 - Deposit Institutions and Deposit Protection Act

Section 35
Disposition versions

Full text
35. The Authority, when it pays a deposit of money in the place and stead of the authorized deposit institution, shall be subrogated pleno jure in all the rights of the depositor against the institution, up to the amount so paid.
The Authority’s claim against the authorized deposit institution bears interest from the payment to the depositor at a rate equal to the rate determined under section 28 of the Tax Administration Act (chapter A-6.002).
Where the depositor has been paid in part only by the Authority, he does not have, over the Authority, the preference provided in article 1658 of the Civil Code.
1966-67, c. 73, s. 35; 1983, c. 10, s. 16; 1999, c. 40, s. 27; 2002, c. 45, s. 198; 2004, c. 37, s. 90; 2009, c. 58, s. 14; 2010, c. 31, s. 175; 2018, c. 23, s. 363.
35. The Authority, when it pays a deposit of money in the place and stead of the registered institution, shall be subrogated pleno jure in all the rights of the depositor against the institution, up to the amount so paid.
The Authority’s claim against the registered institution bears interest from the payment to the depositor at a rate equal to the rate determined under section 28 of the Tax Administration Act (chapter A-6.002).
Where the depositor has been paid in part only by the Authority, he does not have, over the Authority, the preference provided in article 1658 of the Civil Code.
1966-67, c. 73, s. 35; 1983, c. 10, s. 16; 1999, c. 40, s. 27; 2002, c. 45, s. 198; 2004, c. 37, s. 90; 2009, c. 58, s. 14; 2010, c. 31, s. 175.
35. The Authority, when it pays a deposit of money in the place and stead of the registered institution, shall be subrogated pleno jure in all the rights of the depositor against the institution, up to the amount so paid.
The Authority’s claim against the registered institution bears interest from the payment to the depositor at a rate equal to the rate determined under section 28 of the Act respecting the Ministère du Revenu (chapter M‐31).
Where the depositor has been paid in part only by the Authority, he does not have, over the Authority, the preference provided in article 1658 of the Civil Code.
1966-67, c. 73, s. 35; 1983, c. 10, s. 16; 1999, c. 40, s. 27; 2002, c. 45, s. 198; 2004, c. 37, s. 90; 2009, c. 58, s. 14.
35. The Authority, when it pays a deposit of money in the place and stead of the depositary, shall be subrogated pleno jure in all the rights of the depositor against the depositary, up to the amount so paid.
The Authority’s claim against the depositary bears interest from the payment to the depositor at a rate equal to the rate determined under section 28 of the Act respecting the Ministère du Revenu (chapter M‐31).
Where the depositor has been paid in part only by the Authority, he does not have, over the Authority, the preference provided in article 1658 of the Civil Code.
1966-67, c. 73, s. 35; 1983, c. 10, s. 16; 1999, c. 40, s. 27; 2002, c. 45, s. 198; 2004, c. 37, s. 90.
35. The Agency, when it pays a deposit of money in the place and stead of the depositary, shall be subrogated pleno jure in all the rights of the depositor against the depositary, up to the amount so paid.
The Agency’s claim against the depositary bears interest from the payment to the depositor at a rate equal to the rate determined under section 28 of the Act respecting the Ministère du Revenu (chapter M‐31).
Where the depositor has been paid in part only by the Agency, he does not have, over the Agency, the preference provided in article 1658 of the Civil Code.
1966-67, c. 73, s. 35; 1983, c. 10, s. 16; 1999, c. 40, s. 27; 2002, c. 45, s. 198.
35. The Board, when it pays a deposit of money in the place and stead of the depositary, shall be subrogated pleno jure in all the rights of the depositor against the depositary, up to the amount so paid.
The Board’s claim against the depositary bears interest from the payment to the depositor at a rate equal to the rate determined under section 28 of the Act respecting the Ministère du Revenu (chapter M‐31).
Where the depositor has been paid in part only by the Board, he does not have, over the Board, the preference provided in article 1658 of the Civil Code.
1966-67, c. 73, s. 35; 1983, c. 10, s. 16; 1999, c. 40, s. 27.
35. The Board, when it pays a deposit of money in the place and stead of the depositary, shall be subrogated pleno jure in all the rights of the depositor against the depositary, up to the amount so paid.
The Board’s claim against the depositary bears interest from the payment to the depositor at a rate equal to the rate determined under section 28 of the Act respecting the Ministère du Revenu (chapter M-31).
Where the depositor has been paid in part only by the Board, he does not have, over the Board, the preference provided in article 1157 of the Civil Code of Lower Canada.
1966-67, c. 73, s. 35; 1983, c. 10, s. 16.
35. The Board, when it pays a deposit of money in the place and stead of the depositary, shall be subrogated pleno jure in all the rights of the depositor against the depositary, up to the amount so paid.
1966-67, c. 73, s. 35.
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