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S-29.01 - Act respecting trust companies and savings companies

Section 140
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140. No company may, as administrator of the property of another, exercise its powers in its own interest or in the interest of a third person; nor may it place itself in a situation of conflict between its personal interest and its obligations as administrator.
If the company itself is the beneficiary, it must exercise its powers in the common interest giving the same consideration to its own interest as to that of the other beneficiaries.
1987, c. 95, s. 140.
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