S-29.01 - Act respecting trust companies and savings companies

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142. No company may during its administration enter into a contract affecting the administered property or acquire rights in the property or against the beneficiary except by succession.
A company may, notwithstanding the first paragraph, be expressly authorized by the beneficiary or the court to enter into such a contract or acquire such rights where a beneficiary is unable to act or fails to act.
1987, c. 95, s. 142.