189. The security-bond must be accepted by the head of the council in the name of the corporation, and when it is hypothecary, it must be passed before a notary, or be in duplicate by private signature in the presence of two witnesses, who sign the same. The hypothecary security under private signature is valid in such case, notwithstanding article 2040 of the Civil Code of Lower Canada.
The secretary-treasurer must, without delay, register his security-bond, when it is hypothecary, and after he has registered the same, he must transmit a copy or a duplicate thereof to the head of the council and to the Minister of Municipal Affairs, together with a certificate of registration.
M.C. 1916, a. 155; 1928, c. 94, s. 6.