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S-18.2.0.1 - Act respecting the Société nationale du cheval de course

Section 13
Disposition versions

Full text
13. In the event of dissolution, the property of the Société devolves to the State after payment of its debts.
If, at the time of dissolution, the debts of the Société exceed the value of its property, the State shall assume the debt surplus and the sums required for that purpose shall be taken out of the Consolidated Revenue Fund.
1999, c. 26, s. 13; 2006, c. 15, s. 2; 2011, c. 26, s. 66.
13. In the event of dissolution, the property of the Société devolves to the State after payment of its debts. The Government may, however, transfer all or part of the property to a legal person whose objectives coincide with those of the Société.
If, at the time of dissolution, the debts of the Société exceed the value of its property, the State shall assume the debt surplus.
1999, c. 26, s. 13; 2006, c. 15, s. 2.
13. In the event of dissolution, the property of the Société devolves to the State after payment of its debts. The Government may, however, transfer all or part of the property to a legal person whose objectives coincide with those of the Société.
1999, c. 26, s. 13.
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