R-16 - Act respecting retirement plans for the mayors and councillors of municipalities

Full text
38. (Repealed).
1974, c. 48, s. 38; 1988, c. 85, s. 95.
38. The sums contemplated in sections 34 and 36 must be paid, either cash or by annual or monthly payments as prescribed by regulation.
However, the payments may be spread over a period greater than that which is transferred or redeemed and must never extend beyond the actual date of retirement.
Every amount not paid within 30 days of the mailing of a notice of the Commission indicating the amount of the cost of redemption or transfer shall bear interest at the rate of 6% per annum.
1974, c. 48, s. 38.