S-29.02 - Trust Companies and Savings Companies Act

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67. An authorized trust company must identify and keep in a separate account assets in an amount equal to the aggregate of the money received as deposits.
Such assets may be used only for the repayment of deposits received by the company. The balance, if any, must be used to pay the company’s other obligations.
2018, c. 232018, c. 23, s. 395.
In force: 2019-06-13
67. An authorized trust company must identify and keep in a separate account assets in an amount equal to the aggregate of the money received as deposits.
Such assets may be used only for the repayment of deposits received by the company. The balance, if any, must be used to pay the company’s other obligations.
2018, c. 232018, c. 23, s. 395.