706. A by-law establishing a retirement pension fund requires only the approval of the majority of the officers and employees contemplated by the by-law and that of the Commission municipale du Québec even if the by-law prescribes a loan.
Every by-law to amend or to repeal a by-law establishing a retirement pension fund takes effect only from its approval by the Commission municipale du Québec and by the Régie des rentes du Québec. The by-law may have retroactive effect to the date the contributions began to be paid.
The Supplemental Pension Plans Act (chapter R-17) applies to every retirement pension fund contemplated by this Title.
1977, c. 53, s. 34; 1986, c. 32, s. 11.