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D-7 - Act respecting municipal debts and loans

Section 49
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49. A municipality may, by by-law, authorize the making of a convention with all its creditors or creditors to whom it is indebted under one or more loan by-laws.
A convention under the first paragraph shall take effect provided it has been ratified by two-thirds of the creditors contemplated in it and the Minister of Municipal Affairs, Regions and Land Occupancy has approved the by-law authorizing it.
The convention shall be binding on all the creditors contemplated in it.
If the by-law authorizing the convention orders a loan for the purposes of this section, it shall require only the approval of the Minister of Municipal Affairs, Regions and Land Occupancy.
R. S. 1964, c. 171, s. 48; 1984, c. 38, s. 152; 1999, c. 43, s. 13; 2003, c. 19, s. 250; 2005, c. 28, s. 196; 2009, c. 26, s. 109.
49. A municipality may, by by-law, authorize the making of a convention with all its creditors or creditors to whom it is indebted under one or more loan by-laws.
A convention under the first paragraph shall take effect provided it has been ratified by two-thirds of the creditors contemplated in it and the Minister of Municipal Affairs and Regions has approved the by-law authorizing it.
The convention shall be binding on all the creditors contemplated in it.
If the by-law authorizing the convention orders a loan for the purposes of this section, it shall require only the approval of the Minister of Municipal Affairs and Regions.
R. S. 1964, c. 171, s. 48; 1984, c. 38, s. 152; 1999, c. 43, s. 13; 2003, c. 19, s. 250; 2005, c. 28, s. 196.
49. A municipality may, by by-law, authorize the making of a convention with all its creditors or creditors to whom it is indebted under one or more loan by-laws.
A convention under the first paragraph shall take effect provided it has been ratified by two-thirds of the creditors contemplated in it and the Minister of Municipal Affairs, Sports and Recreation has approved the by-law authorizing it.
The convention shall be binding on all the creditors contemplated in it.
If the by-law authorizing the convention orders a loan for the purposes of this section, it shall require only the approval of the Minister of Municipal Affairs, Sports and Recreation.
R. S. 1964, c. 171, s. 48; 1984, c. 38, s. 152; 1999, c. 43, s. 13; 2003, c. 19, s. 250.
49. A municipality may, by by-law, authorize the making of a convention with all its creditors or creditors to whom it is indebted under one or more loan by-laws.
A convention under the first paragraph shall take effect provided it has been ratified by two-thirds of the creditors contemplated in it and the Minister of Municipal Affairs and Greater Montréal has approved the by-law authorizing it.
The convention shall be binding on all the creditors contemplated in it.
If the by-law authorizing the convention orders a loan for the purposes of this section, it shall require only the approval of the Minister of Municipal Affairs and Greater Montréal.
R. S. 1964, c. 171, s. 48; 1984, c. 38, s. 152; 1999, c. 43, s. 13.
49. A municipality may, by by-law, authorize the making of a convention with all its creditors or creditors to whom it is indebted under one or more loan by-laws.
A convention under the first paragraph shall take effect provided it has been ratified by two-thirds of the creditors contemplated in it and the Minister of Municipal Affairs has approved the by-law authorizing it.
The convention shall be binding on all the creditors contemplated in it.
If the by-law authorizing the convention orders a loan for the purposes of this section, it shall require only the approval of the Minister of Municipal Affairs.
R. S. 1964, c. 171, s. 48; 1984, c. 38, s. 152.
49. Notwithstanding any provision to the contrary in the charter of any city or town, subsection 2 of section 567 of the Cities and Towns Act (chapter C-19), shall apply to every city and town municipality in Québec, with the exception of those to which wider powers are granted by charter than by the said section.
R. S. 1964, c. 171, s. 48.
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