A-4.1 - Act respecting the acquisition of farm land by non-residents

Section 4 Disposition versions

1999-10-22

4. For the purposes of this Act, a legal person is resident in Québec if it is validly constituted, regardless of the manner or place of its constitution and

(1)  in the case of a legal person with share capital, more than 50% of the voting shares of its capital stock are owned by one or more persons resident in Québec and more than one-half of its directors are natural persons resident in Québec;

(2)  in the case of a legal person without share capital, more than one-half of its members are resident in Québec; and

(3)  it is not directly or indirectly controlled by one or more non-residents.

1979, c. 65, s. 4; 1999, c. 40, s. 6.

1979-12-21

4. For the purposes of this act, an artificial person is resident in Québec if it is validly incorporated, regardless of the manner or place of its incorporation and

(1)  in the case of a corporation with share capital, more than 50% of the voting shares of its capital stock are owned by one or more persons resident in Québec and more than one-half of its directors are natural persons resident in Québec;

(2)  in the case of a corporation without share capital, more than one-half of its members are resident in Québec; and

(3)  it is not directly or indirectly controlled by one or more non-residents.

1979, c. 65, s. 4.