S-29.02 - Trust Companies and Savings Companies Act

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140. A trust company continues to be an authorized trust company as long as a revocation is not final. However, it may not bind itself under a contract or other act made in accordance with the authorization to which the revocation applies if the contract or act is made after the revocation date, or offer to make a contract, except to honour a right conferred on the other party under a contract in force on that date.
Suspension produces the same effects for its duration.
2018, c. 232018, c. 23, s. 395.
In force: 2019-06-13
140. A trust company continues to be an authorized trust company as long as a revocation is not final. However, it may not bind itself under a contract or other act made in accordance with the authorization to which the revocation applies if the contract or act is made after the revocation date, or offer to make a contract, except to honour a right conferred on the other party under a contract in force on that date.
Suspension produces the same effects for its duration.
2018, c. 232018, c. 23, s. 395.