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I-13.2.2 - Deposit Institutions and Deposit Protection Act

Section 40.40
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40.40. The Authority may transfer the assets and liabilities of a legal person belonging to the cooperative group to any acquirer. It may also renounce the exercise of a right or concede a right in an asset or a liability.
A transfer or concession may relate to specific assets or liabilities or a universality of assets and liabilities. The Authority is not limited as to the number of such acts it may perform.
A transfer, renunciation or concession may be by gratuitous or onerous title.
A regulation of the Authority may specify the terms and conditions applicable to transfers of the financial contracts referred to in section 40.22.
2018, c. 23, s. 376; 2019, c. 2, s. 2.
40.40. The Authority may transfer the assets and liabilities of a legal person belonging to the cooperative group to any acquirer. It may also renounce the exercise of a right or concede a right in an asset or a liability.
A transfer or concession may relate to specific assets or liabilities or a universality of assets and liabilities. The Authority is not limited as to the number of such acts it may perform.
A transfer, renunciation or concession may be by gratuitous or onerous title.
2018, c. 23, s. 376.
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