I-13.2.2 - Deposit Institutions and Deposit Protection Act

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40.20. A security agreement on the property of a legal person belonging to the cooperative group and the rights it confers on that legal person’s creditor are exempt from the application of sections 40.15 to 40.17 in either of the following cases:
(1)  the security guarantees a claim of the Bank of Canada or the Authority; or
(2)  the agreement has been exempted from the application of those sections under section 40.21.
2018, c. 232018, c. 23, s. 376.