C-41 - Trust Companies Act

Section 14 Disposition versions

1977-12-31

14. A registered company authorized to hold one or more of the offices mentioned in paragraph 7 of section 2 may act alone in such capacity notwithstanding any general or special provision of any law requiring two or more persons to be appointed to the office held by a registered company.

A registered company, when it is appointed to any office by any person or corporation, or by a court of competent jurisdiction, shall not be bound to furnish any bond or security other than its own undertaking to perform the duties of the office entrusted to it, unless the court, in the case of an appointment within its jurisdiction, thinks fit to order otherwise.

R. S. 1964, c. 287, s. 14.