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S-31 - National Benefit Societies Act

Section 3
Disposition versions

Full text
3. Every legal person may acquire and hold, in the territory of the local municipality that authorized its constitution or in the adjacent local municipal territory in the same judicial district and registration division, any property it requires and whose rental value does not exceed $2,000 or $4,000, depending on whether the population of the municipality is less than 3,000 inhabitants, or is equal to or greater than that number.
No by-law made by a society constituted as a legal person under the provisions of this Act shall have any effect before being approved by the Government.
R. S. 1964, c. 299, s. 3; 1971, c. 50, s. 120; 1996, c. 2, s. 940; 1999, c. 40, s. 307.
3. Every corporation may acquire and hold, in the territory of the local municipality that authorized its incorporation or in the adjacent local municipal territory in the same judicial district and registration division, any property it requires and whose rental value does not exceed $2,000 or $4,000, depending on whether the population of the municipality is less than 3,000 inhabitants, or is equal to or greater than that number.
No by-law made by a society incorporated under the provisions of this Act shall have any effect before being approved by the Government.
R. S. 1964, c. 299, s. 3; 1971, c. 50, s. 120; 1996, c. 2, s. 940.
3. In any locality, village or town, of less than 3 000 inhabitants, every society so incorporated may acquire and hold, within the municipality which authorized the incorporation, or within an adjacent municipality within the same judicial district and registration division, moveable and immoveable property, required for the purposes of the society, not exceeding in rental value the sum of $2 000; and, in any city, town or village having 3 000 inhabitants or more, moveable and immoveable property not exceeding in rental value $4 000.
No by-law made by a society incorporated under the provisions of this act shall have any effect before being approved by the Government.
R. S. 1964, c. 299, s. 3; 1971, c. 50, s. 120.
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