C-27.1 - Municipal Code of Québec

Section 1088 Disposition versions

2009-01-01

1088. A transfer in accordance with the Act respecting the transfer of securities and the establishment of security entitlements (chapter T-11.002) or with article 1087, as applicable, conveys all rights in the bond to the transferee and entitles the transferee to bring an action based on the bond in the transferee’s own name.

In any such action, it is not necessary to set forth or to prove the mode by which a person became the holder of the bond, or to set forth or to prove the notices, by-laws, or other proceedings under or by virtue of which the bond was issued. It shall be sufficient to describe the plaintiff or applicant as the holder of the bond alleging the general endorsement or registration required by article 1087, if any, and shortly to state its legal effect and purport, and to make proof accordingly.

M.C. 1916, a. 780; 1983, c. 57, s. 33; 2008, c. 20, s. 153.

1999-04-01

1088. A transfer carried out in accordance with article 1086 and article 1087, where such is the case, shall vest the property thereof in the transferee and entitle him to bring action thereon in his own name.

In any such action, it is not necessary to set forth or to prove the mode by which a person became the holder of the bond, or to set forth or to prove the notices, by-laws, or other proceedings under or by virtue of which the bond was issued. It shall be sufficient to describe the plaintiff or applicant as the holder of the bond alleging the general endorsement or registration required by articles 1086 and 1087, if any, and shortly to state its legal effect and purport, and to make proof accordingly.

M.C. 1916, a. 780; 1983, c. 57, s. 33.