S-29.01 - Act respecting trust companies and savings companies

Section 130 Disposition versions

2004-12-17

130. Except if it involves only minimal amounts, every contract contemplated in section 129 must be in writing and receive the approval of the board of directors of the company after the board obtains the advice of the ethics committee.

The board of directors may by resolution delegate its power of approval to a committee composed of not less than three directors. A majority of the members of the committee must consist of directors other than remunerated officers, employees or members of the ethics committee of the company.

The Authority may demand a copy of such a contract.

1987, c. 95, s. 130; 2002, c. 45, s. 611; 2004, c. 37, s. 90.

2004-02-01

130. Except if it involves only minimal amounts, every contract contemplated in section 129 must be in writing and receive the approval of the board of directors of the company after the board obtains the advice of the ethics committee.

The board of directors may by resolution delegate its power of approval to a committee composed of not less than three directors. A majority of the members of the committee must consist of directors other than remunerated officers, employees or members of the ethics committee of the company.

The Agency may demand a copy of such a contract.

1987, c. 95, s. 130; 2002, c. 45, s. 611.

1988-06-09

130. Except if it involves only minimal amounts, every contract contemplated in section 129 must be in writing and receive the approval of the board of directors of the company after the board obtains the advice of the ethics committee.

The board of directors may by resolution delegate its power of approval to a committee composed of not less than three directors. A majority of the members of the committee must consist of directors other than remunerated officers, employees or members of the ethics committee of the company.

The Inspector General may demand a copy of such a contract.

1987, c. 95, s. 130.