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S-29.01 - Act respecting trust companies and savings companies

Section 213
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213. (Repealed).
1987, c. 95, s. 213; 2008, c. 7, s. 117.
213. No Québec company may purchase immovables for an amount exceeding 10% of its consolidated assets.
The amount that may be so invested in an individual immovable is limited to 2% of the consolidated assets of the company, and to 1% where the immovable is not income producing.
For the purposes of this section, an income producing immovable is an immovable on which the rate of net annual income computed for a financial year is at least 50% of the annual yield of a sum equal to the market value of the immovable invested in that financial year in long term Government of Canada bonds.
1987, c. 95, s. 213.
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