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S-29.02 - Trust Companies and Savings Companies Act

Section 296
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296. The payment of a monetary administrative penalty is secured by a legal hypothec on the debtor’s movable and immovable property.
For the purposes of this division, “debtor” means the party responsible for a failure to comply that is required to pay a monetary administrative penalty and, as applicable, each of its directors and officers are solidarily liable with that party for the payment of the penalty.
2018, c. 23, s. 395.
In force: 2019-06-13
296. The payment of a monetary administrative penalty is secured by a legal hypothec on the debtor’s movable and immovable property.
For the purposes of this division, “debtor” means the party responsible for a failure to comply that is required to pay a monetary administrative penalty and, as applicable, each of its directors and officers are solidarily liable with that party for the payment of the penalty.
2018, c. 23, s. 395.
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