P-40.1 - Consumer Protection Act

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257. The merchant shall, at all times, have only one trust account in a chartered bank, financial services cooperative, trust company or other institution authorized by the Deposit Insurance Act (chapter A-26) to receive deposits, to keep the sums of money contemplated in sections 254 to 256.
From the time the account is opened, he must inform the president of the place where such account is kept and the number of such account.
1978, c. 9, s. 257; 2000, c. 29, s. 664.
257. The merchant shall, at all times, have only one trust account in a chartered bank, savings and credit union, trust company or other institution authorized by the Deposit Insurance Act (chapter A-26) to receive deposits, to keep the sums of money contemplated in sections 254 to 256.
From the time the account is opened, he must inform the president of the place where such account is kept and the number of such account.
1978, c. 9, s. 257.