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C-40.1 - Act respecting Roman Catholic cemetery companies

Section 25
Disposition versions

Full text
25. The company, when authorized by its visitor, may accept endowments for religious, pious and charitable purposes and consequently receive, as legal depositary, trustee, legatee and donee, the property given or transferred by gift, will or otherwise, by the founder and bind itself, as such, to carry out the charges established by the latter, the company being bound to carry out the same with the property of the endowment only and not with its personal assets.
The property of each endowment shall constitute a distinct patrimony which must be managed and administered separately. The company may exercise all the rights of absolute owner and use a special seal for each patrimony; it must keep a separate account for each showing the composition thereof.
The rights of control vested in the visitor of the company by section 36 shall apply to all acts done by the latter in the exercise of the powers resulting from this section.
R. S. 1964, c. 308, s. 25; 1999, c. 40, s. 89.
25. The corporation, when authorized by its visitor, may accept endowments for religious, pious and charitable purposes and consequently receive, as legal depositary, fiduciary agent, legatee and donee, the property given or transferred by gift, will or otherwise, by the founder and bind itself, as such, to carry out the charges established by the latter, the corporation being bound to carry out the same with the property of the endowment only and not with its personal assets.
The property of each endowment shall constitute a distinct patrimony which must be managed and administered separately. The corporation may exercise all the rights of absolute owner and use a special seal for each patrimony; it must keep a separate account for each showing the composition thereof.
The rights of control vested in the visitor of the corporation by section 36 shall apply to all acts done by the latter in the exercise of the powers resulting from this section.
R. S. 1964, c. 308, s. 25.
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