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C-37.2 - Act respecting the Communauté urbaine de Montréal
Section 306.20
Disposition versions
306.20. The bonds, notes and other securities issued by the Société shall be investments presumed sound as if they were mentioned in paragraph 2 of article 1339 of the Civil Code.
The commitments attaching to the securities issued by the Société and the contracts entered into by it constitute direct and general obligations of the Société and of the municipalities mentioned in Schedules A and B ranking concurrently and without preference with the other general obligations of the Société and of those municipalities.
306.20. The bonds, notes and other securities issued by the corporation shall be authorized investments as if they were mentioned in subparagraph a of the first paragraph of article 981o of the Civil Code of Lower Canada.
The commitments attaching to the securities issued by the corporation and the contracts entered into by it constitute direct and general obligations of the corporation and of the municipalities mentioned in Schedules A and B ranking concurrently and without preference with the other general obligations of the corporation and of those municipalities.
