177. Every Québec trust company and any other trust company that has capacity to do so may receive deposits within the meaning of the Deposit Insurance Act (chapter A-26) and the regulations thereunder.
The company may issue investment certificates or other evidences of the deposits received.
The funds so received are deemed to be held in trust by the company and the company is deemed to guarantee their repayment.
The company may exercise such powers, however, only if it is registered with the Agence nationale d’encadrement du secteur financier pursuant to the Deposit Insurance Act.
1987, c. 95, s. 177; 1999, c. 40, s. 304; 2002, c. 45, s. 588.