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C-3 - Act respecting the caisses d’entraide économique

Section 17
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17. The total of the amounts borrowed by a union must not, at any time, except with the authorization of the Autorité des marchés financiers, exceed 10% of the amount represented by the savings of the members, the paid-up and unimpaired capital and the general reserve contemplated in section 13.
For the purposes of this section, the savings deposited in a union by its members and the borrowings fully secured by hypothec on securities or made for transitional requirements of liquid assets from the federation are not regarded as sums borrowed.
1974, c. 68, s. 17; 1977, c. 5, s. 14; 1978, c. 85, s. 30; 1992, c. 57, s. 454; 2002, c. 45, s. 244; 2004, c. 37, s. 90.
17. The total of the amounts borrowed by a union must not, at any time, except with the authorization of the Agence nationale d’encadrement du secteur financier, exceed 10 % of the amount represented by the savings of the members, the paid-up and unimpaired capital and the general reserve contemplated in section 13.
For the purposes of this section, the savings deposited in a union by its members and the borrowings fully secured by hypothec on securities or made for transitional requirements of liquid assets from the federation are not regarded as sums borrowed.
1974, c. 68, s. 17; 1977, c. 5, s. 14; 1978, c. 85, s. 30; 1992, c. 57, s. 454; 2002, c. 45, s. 244.
17. The total of the amounts borrowed by a union must not, at any time, except with the authorization of the Régie de l’assurance-dépôts du Québec, exceed 10 % of the amount represented by the savings of the members, the paid-up and unimpaired capital and the general reserve contemplated in section 13.
For the purposes of this section, the savings deposited in a union by its members and the borrowings fully secured by hypothec on securities or made for transitional requirements of liquid assets from the federation are not regarded as sums borrowed.
1974, c. 68, s. 17; 1977, c. 5, s. 14; 1978, c. 85, s. 30; 1992, c. 57, s. 454.
17. The total of the amounts borrowed by a union must not, at any time, except with the authorization of the Régie de l’assurance-dépôts du Québec, exceed ten per cent of the amount represented by the savings of the members, the paid-up and unimpaired capital and the general reserve contemplated in section 13.
For the purposes of this section, the savings deposited in a union by its members and the borrowings fully secured by the pledge of securities or made for transitional requirements of liquid assets from the federation are not regarded as sums borrowed.
1974, c. 68, s. 17; 1977, c. 5, s. 14; 1978, c. 85, s. 30.
17. The total of the amounts borrowed by a union must not, at any time, except with the authorization of the Régie de l’assurance-dépôts du Québec, exceed ten per cent of the amount represented by the savings of the members, the paid-up and unimpaired capital and the general reserve contemplated in section 13.
For the purposes of this section, the savings deposited in a union by its members and the borrowings fully secured by the pledge of securities shall not be regarded as sums borrowed.
1974, c. 68, s. 17; 1977, c. 5, s. 14.
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