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C-71 - Religious Corporations Act

Section 12
Disposition versions

Full text
12. The corporation may accept endowments for religious, charitable, educational or welfare purposes and be seized, as trustee within the meaning of the Civil Code, legatee or donee of the property given or transmitted by gift, will or otherwise by the maker of the endowment and bind itself, as such, to carry out the charges inherent in the deeds constituting such endowments.
The property of each endowment shall constitute a distinct patrimony which must be managed and administered separately and for which separate accounts shall be kept.
1971, c. 75, s. 12.
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