M-42 - Act respecting the Montréal Museum of Fine Arts

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16. The board of trustees may adopt a by-law which may concern, in particular,
(1)  the admission, suspension, expulsion and disciplining of the members of the Museum and the establishment of various classes of members;
(2)  the determination of the amount of the required dues for each class of member of the Museum;
(3)  the calling of meetings of Museum members and meetings of the board of trustees, the procedure to be followed at meetings and, in the case of meetings of the members, the quorum required at them;
(4)  the conditions required to run for the office of an elected board member;
(5)  the procedure governing the election of board members elected by the general meeting of the members of the Museum;
(6)  the duties of board members;
(7)  the establishment, composition and functions of committees within the Museum or board of trustees, except the establishment and functions of art acquisition committees and those established under section 20;
(8)  the protection and proper use of the premises;
(9)  the cases in which a member’s repeated absence from board meetings constitutes a vacancy; and
(10)  the determination of conditions for the acquisition, alienation, leasing, lending, borrowing, donation, exchange, preservation or restoration of property that are the works of man or the products of nature.
The by-law must be approved by the general meeting of the members of the Museum and by the Minister, and must be available on the Museum’s website.
The by-law must be reviewed at the Minister’s request or not later than every 10 years from the last review.
1972, c. 21, s. 16; 1992, c. 57, s. 628; 1999, c. 40, s. 194; 2021, c. 21, s. 3.
16. If authorized by a regulation approved by the vote of at least two-thirds of the members present at a general meeting duly called for that purpose, the trustees may:
(a)  borrow money on the credit of the Museum;
(b)  issue bonds or other securities of the Museum and offer them as security or sell them for the prices and amounts considered reasonable;
(c)  hypothecate the movable or immovable or otherwise affect the movable property of the Museum;
(d)  (subparagraph replaced).
Every regulation contemplated in this section shall require the authorization of the Government.
1972, c. 21, s. 16; 1992, c. 57, s. 628; 1999, c. 40, s. 194.
16. If authorized by a regulation approved by the vote of at least two-thirds of the members present at a general meeting duly called for that purpose, the trustees may:
(a)  borrow money on the credit of the corporation;
(b)  issue bonds or other securities of the corporation and offer them as security or sell them for the prices and amounts considered reasonable;
(c)  hypothecate the movable or immovable or otherwise affect the movable property of the corporation;
(d)  (subparagraph replaced).
Every regulation contemplated in this section shall require the authorization of the Government.
1972, c. 21, s. 16; 1992, c. 57, s. 628.
16. If authorized by a regulation approved by the vote of at least two-thirds of the members present at a general meeting duly called for that purpose, the trustees may:
(a)  borrow money on the credit of the corporation;
(b)  issue bonds or other securities of the corporation and offer them as security or sell them for the prices and amounts considered reasonable;
(c)  notwithstanding the provisions of the Civil Code, hypothecate, mortgage or pledge the moveable or immoveable property, present or future, of the corporation to secure payment of such bonds or other securities, or give only a part of such securities for the same objects, and constitute the above-mentioned hypothec, mortgage or pledge by trust deed, in accordance with sections 28 and 29 of the Special Corporate Powers Act (chapter P-16) or in any other manner;
(d)  hypothecate or mortgage the immoveable property, or pledge or otherwise encumber the moveable property of the corporation, or offer such various kinds of security to secure the payment of loans made otherwise than by the issue of bonds, as well as the payment or performance of the other debts, contracts and undertakings of the corporation.
Every regulation contemplated in this section shall require the authorization of the Government.
1972, c. 21, s. 16.