A-6.001 - Financial Administration Act

Full text
72. The Minister may effect any transaction under a borrowing plan established in accordance with this division. The Minister may also, if so authorized by the borrowing plan, enter into contracts for the payment of fixed-term annuities. The funds earmarked for the payment of an annuity shall be regarded as the principal of a loan.
Such funds are exempt from seizure in the hands of the Minister as though they were fixed-term annuities transacted by insurers, provided that a beneficiary in the event of death is designated in the manner set out in the provisions of the Civil Code concerning insurance.
2000, c. 15, s. 72.