307. The security by pledge consists in the deposit of a sum of money or of bonds approved by the school board and to the amount required. Such deposit must be made Bureau général de dépôts pour le Québec and cannot be withdrawn without the authorization of the Minister of Education, Recreation and Sports. The secretary-treasurer or any surety for him may make this deposit.
The Bureau général de dépôts pour le Québec upon receiving such deposit shall forthwith transmit to the Minister of Education, Recreation and Sports a duplicate of the receipt given therefor.
R. S. 1964, c. 235, s. 327; 1993, c. 51, s. 72; 1994, c. 16, s. 50; 1999, c. 40, s. 159; 2005, c. 28, s. 195; 2016, c. 7, s. 183.