314. The secretary-treasurer shall not be presumed to have complied with the provisions of sections 306 and 312, until the insurance policy or the receipt for the renewal of the insurance policy which must be transmitted to the Minister has been accepted by the latter, or, in the case of security by pledge, when the Minister of Finance has transmitted the duplicate receipt mentioned in section 307.
R. S. 1964, c. 235, s. 334; 1999, c. 40, s. 159.