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C-19 - Cities and Towns Act

Section 551
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551. Coupons may be annexed to each bond, each of which shall constitute the title for one instalment of interest. Such coupons shall be payable to the person entitled to payment of the interest when the interest specified therein falls due, whether the bearer, the person in whose name the bond is registered or the endorsee, and shall bear an indicating number as well as the number of the bond to which they are attached.
They shall be signed by the persons contemplated in the second paragraph of section 549; but a facsimile of the signatures of those persons, printed, lithographed or engraved on the coupons, shall be sufficient.
On payment of the interest, the coupons shall be handed to the treasurer, and the possession of any coupon by such officer or employee shall be proof that the interest specified therein has been paid.
Any municipality not governed by the provisions of this section may enact, by by-law of its council, that these provisions shall apply to the said municipality.
R. S. 1964, c. 193, s. 589; 1968, c. 55, s. 5; 1983, c. 57, s. 59; 1996, c. 2, s. 201; 2008, c. 20, s. 142.
551. Coupons may be annexed to each bond, each of which shall constitute the title for one instalment of interest. Such coupons shall be payable to the person entitled thereto pursuant to the last four paragraphs of section 549 when the interest specified therein falls due, and shall bear an indicating number as well as the number of the bond to which they are attached.
They shall be signed by the persons contemplated in the second paragraph of section 549; but a facsimile of the signatures of those persons, printed, lithographed or engraved on the coupons, shall be sufficient.
On payment of the interest, the coupons shall be handed to the treasurer, and the possession of any coupon by such officer or employee shall be proof that the interest specified therein has been paid.
Any municipality not governed by the provisions of this section may enact, by by-law of its council, that these provisions shall apply to the said municipality.
R. S. 1964, c. 193, s. 589; 1968, c. 55, s. 5; 1983, c. 57, s. 59; 1996, c. 2, s. 201.
551. Coupons may be annexed to each bond, each of which shall constitute the title for one instalment of interest. Such coupons shall be payable to the person entitled thereto pursuant to the last four paragraphs of section 549 when the interest specified therein falls due, and shall bear an indicating number as well as the number of the bond to which they are attached.
They shall be signed by the persons contemplated in the second paragraph of section 549; but a facsimile of the signatures of those persons, printed, lithographed or engraved on the coupons, shall be sufficient.
On payment of the interest, the coupons shall be handed to the treasurer, and the possession of any coupon by such officer or employee shall be proof that the interest specified therein has been paid.
Any city or town municipality not governed by the provisions of this section may enact, by by-law of its council, that these provisions shall apply to the said municipality.
R. S. 1964, c. 193, s. 589; 1968, c. 55, s. 5; 1983, c. 57, s. 59.
551. Coupons may be annexed to each bond, each of which shall constitute the title for one instalment of interest. Such coupons shall be payable to bearer when the interest specified therein falls due, and shall bear an indicating number as well as the number of the bond to which they are attached.
They shall be signed by the mayor and by the clerk; but a facsimile of the signatures of such officers, printed, lithographed or engraved on the coupons, shall be sufficient.
On payment of the interest, the coupons shall be handed to the treasurer, and the possession of any coupon by such officer or employee shall be proof that the interest specified therein has been paid.
Any city or town municipality not governed by the provisions of this section may enact, by by-law of its council, that these provisions shall apply to the said municipality.
R. S. 1964, c. 193, s. 589; 1968, c. 55, s. 5.
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