C-24.2, r. 7 - Regulation respecting dealers and recyclers

Section 15 Disposition versions

2012-09-01

15. The group guarantee bond must contain the following particulars:

(1)  the security number;

(2)  the security amount;

(3)  the name and address of the surety;

(4)  the name and address of the group constituted as a legal person;

(5)  the obligations of the surety provided for in the Code in favour of all members of the group referred to in paragraph 4;

(6)  mention that the surety can terminate the security with regard to a member of the group referred to in paragraph 4 by giving not less than 45 days’ notice in writing to the Société;

(7)  mention that the surety forsakes the benefit of discussion;

(8)  the statement that the liability of the surety for the duration of the guarantee is limited to the amount prescribed by section 19 or 20;

(9)  the date of coming into force of the security and that of its expiry;

(10)  the date of the conclusion of the security and the signature of a duly authorized officer of the group, of a duly authorized officer of the surety and of a witness present at the signing of both officers.

O.C. 1693-87, s. 15; O.C. 1427-97, s. 18.