S-29.02, r. 1 - Regulation under the Trust Companies and Savings Companies Act

Section 3 Disposition versions

2012-09-01

3. The resolution of the board of directors shall indicate:

(1)  the aggregate amount of bonds, debt securities or subordinated loans that may be issued or accepted;

(2)  the rate of interest and the term that must be fixed or could be fixed and any right to redemption before term;

(3)  any privilege of conversion or exchange into shares of the company, where bonds or other debt securities are involved;

(4)  any right to redemption in shares of the company where subordinated loans are involved;

(5)  any conditions for redemption.

O.C. 719-88, s. 3.