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I-13.2.2 - Deposit Institutions and Deposit Protection Act

Section 25
Disposition versions

Full text
25. (Repealed).
1966-67, c. 73, s. 25; 1968, c. 71, s. 2; 1988, c. 64, s. 551; 1999, c. 40, s. 27; 2009, c. 58, s. 4.
25. The following in particular shall be deemed to be deposits of money unless excluded by regulation:
(a)  savings which a savings and credit union receives from its members to be employed to yield a profit and to extend credit to them;
(b)  funds entrusted to a trust company for the purpose of having them invested by the company in its capacity of trustee or mandatary when such company has guaranteed the repayment of such funds or the payment of interest at an agreed rate;
(c)  funds for which the depositary issues a document stating or leading to the belief that the funds have been placed on deposit;
(d)  funds placed with a depositary upon the understanding that the depositor shall have the privilege of making withdrawals in cash or by cheque or transfer or otherwise, in favour of himself or of others.
1966-67, c. 73, s. 25; 1968, c. 71, s. 2; 1988, c. 64, s. 551; 1999, c. 40, s. 27.
25. The following in particular shall be deemed to be deposits of money unless excluded by regulation:
(a)  savings which a savings and credit union receives from its members to be employed to yield a profit and to extend credit to them;
(b)  funds entrusted to a trust company for the purpose of having them invested by the company in its capacity of trustee or agent when such company has guaranteed the repayment of such funds or the payment of interest at an agreed rate;
(c)  funds for which the depositary issues a document stating or leading to the belief that the funds have been placed on deposit;
(d)  funds placed with a depositary upon the understanding that the depositor shall have the privilege of making withdrawals in cash or by cheque or transfer or otherwise, in favour of himself or of others.
1966-67, c. 73, s. 25; 1968, c. 71, s. 2; 1988, c. 64, s. 551.
25. The following in particular shall be deemed to be deposits of money unless excluded by regulation:
(a)  savings which a savings and credit union receives from its members to be employed to yield a profit and to make loans to them;
(b)  funds entrusted to a trust company for the purpose of having them invested by the company in its capacity of trustee or agent when such company has guaranteed the repayment of such funds or the payment of interest at an agreed rate;
(c)  funds for which the depositary issues a document stating or leading to the belief that the funds have been placed on deposit;
(d)  funds placed with a depositary upon the understanding that the depositor shall have the privilege of making withdrawals in cash or by cheque or transfer or otherwise, in favour of himself or of others.
1966-67, c. 73, s. 25; 1968, c. 71, s. 2.
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