S-17 - Act respecting the Société générale de financement du Québec

Section 13 Disposition versions

1978-12-22

13. (Repealed).

1962, c. 54, s. 12; 1966-1967, c. 76, s. 4; 1969, c. 72, s. 3; 1976, c. 12, s. 7; 1978, c. 66, s. 7.

1977-12-31

13. A savings and credit union, with prior approval, where required, of the federation to which it is affiliated, may acquire and hold bonds or other titles of indebtedness issued by the company up to one-fourth of its general reserve.

A union affiliated to a federation that is itself affiliated to the Fédération de Québec des unions régionales des caisses populaires Desjardins must obtain the approval of the latter federation.

A federation does not incur any liability by giving such approval.

A union not affiliated to a federation must obtain authorization from the Minister of Consumer Affairs, Cooperatives and Financial Institutions.

1962, c. 54, s. 12; 1966-1967, c. 76, s. 4; 1969, c. 72, s. 3; 1976, c. 12, s. 7.