P-16 - Act respecting the special powers of legal persons

Section 27 Disposition versions

1994-01-01

27. Any joint stock legal person which does not carry on an enterprise, constituted as a legal person under an Act or by letters patent and empowered to borrow and to hypothecate or any legal person thus constituted outside Québec, if so empowered by its charter or by the law governing it, may avail itself of the provisions of the Civil Code and grant a hypothec, even a floating hypothec, on a universality of property, movable or immovable, present or future, corporeal or incorporeal.

R. S. 1964, c. 275, s. 22; 1968, c. 9, s. 90; 1992, c. 57, s. 643.

1977-12-31

27. Notwithstanding any existing law, any joint stock company incorporated under an act of the Legislature of Québec or by letters patent, or any company so incorporated outside Québec if empowered thereto by its charter or its letters patent, may by authentic deed—for the purpose of securing any bonds, debentures or debenture-stock which it is by law entitled to issue—hypothecate, mortgage or pledge any property, moveable or immoveable, present or future, which it may own in Québec.

R. S. 1964, c. 275, s. 22; 1968, c. 9, s. 90.