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A-23.001 - Act respecting arrangements for funeral services and sepultures
Section 68
Disposition versions
68. Every depositary which
(1) allows all or part of the funds held in trust by it to be deposited for a term exceeding five years,
(2) allows all or part of the funds held in trust by it to be invested by a person other than itself,
(3) invests all or part of the funds held in trust by it otherwise than in a form of investment authorized under section 26,
(4) invests all or part of the funds held in trust by it in the form of a deposit certificate of a financial institution for a term exceeding five years, or
(5) fails to keep up to date the accounting prescribed by the first paragraph of section 33,
is guilty of an offence and is liable to a fine of not less than $1,000 nor more than $50,000.
68. Every depositary which
(1) allows all or part of the funds held in trust by it to be deposited for a term exceeding five years,
(2) allows all or part of the funds held in trust by it to be invested by a person other than itself,
(3) invests all or part of the funds held in trust by it otherwise than in a form of investment authorized under section 26,
(4) invests all or part of the funds held in trust by it in the form of a deposit certificate of a financial institution for a term exceeding five years, or
(5) fails to keep up to date the accounting prescribed by the first paragraph of section 33,
is guilty of an offence and is liable, in addition to costs, to a fine of not less than $1 000 nor more than $50 000.
