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S-29.01 - Act respecting trust companies and savings companies
Section 178.1
Disposition versions
178.1. In an annuity contract, the fact that a trust company offers a choice of investments does not preclude the company from having control of the capital accumulated for the payment of the annuity.
The right to withdraw all or part of the capital accumulated for the payment of an annuity may be stipulated, but the exercise of that right reduces the trust company’s obligations correlatively.
In addition, the amount of the annuity to be paid periodically must, at the time the contract is entered into, be determinate, or at least determinable according to variables and a computation method specified in the contract.
