R-16 - Act respecting retirement plans for the mayors and councillors of municipalities

Section 38 Disposition versions

1989-01-01

38. (Repealed).

1974, c. 48, s. 38; 1988, c. 85, s. 95.

1977-12-31

38. The sums contemplated in sections 34 and 36 must be paid, either cash or by annual or monthly payments as prescribed by regulation.

However, the payments may be spread over a period greater than that which is transferred or redeemed and must never extend beyond the actual date of retirement.

Every amount not paid within 30 days of the mailing of a notice of the Commission indicating the amount of the cost of redemption or transfer shall bear interest at the rate of 6% per annum.

1974, c. 48, s. 38.