S-39 - Stock-breeding Syndicates Act

Full text
18. (1)  In accordance with the provisions of this Act and of the by-laws of the syndicate, the board of directors shall administer all things connected with the interests of the syndicate, and, in particular, it may:
(a)  Determine the particular terms of every contract, taking special care that the interests of the syndicate are protected;
(b)  Borrow money;
(c)  Acquire movables, livestock and immovables, and resell the same;
(d)  Authorize all legal and judicial proceedings.
(2)  The total amount of the sums borrowed by a syndicate shall never exceed the amount of the subscribed shares.
R. S. 1964, c. 115, s. 18.