C-4.1 - Savings and Credit Unions Act

Section 408 Disposition versions

1989-03-15

408. A federation may invest

(1)  without any limits, in any security mentioned in subparagraphs 1 to 3 of section 256, in bonds, in other debt securities, in titles of indebtedness evidencing the sale of a hypothec portfolio, in deposit certificates and promissory notes issued, guaranteed or accepted by a bank or by an institution registered with the Régie de l’assurance-dépôts du Québec and in any promissory note issued by a legal person;

(2)  an amount corresponding to not more than 3 % of the assets of the credit unions affiliated with it, in units, shares, bonds or debentures and, where the federation is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec, in bonds issued by the confederation;

(3)  not more than 7 % of its assets in property not referred to in paragraphs 1 and 2.

1988, c. 64, s. 408.