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C-14 - Railway Act

Section 45
Disposition versions

Full text
45. The company shall not be bound to see to the execution of any trust, whether express or implied, to which any of the shares may be subject.
The receipt of the person in whose name any share stands in the books of the company, or, if it stand in the name of more persons than one, the receipt of one of the persons named in the register of shareholders, shall be a sufficient discharge to the company for any dividend or other sum of money payable in respect of the share, notwithstanding any trust to which the share may then be subject, and whether or not the company has had notice of trusts.
The company shall not be bound to see to the application of the money paid upon such receipts.
R. S. 1964, c. 290, s. 45.
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