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P-40.1 - Consumer Protection Act

Section 260.9
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260.9. The reserve account must remain open at all times in Québec with a trust company authorized under the Trust Companies and Savings Companies Act (chapter S-29.02) which has made a written undertaking that it will assume the duties, obligations and responsibilities imposed on it by this Act with respect to the sums entrusted to it by the merchant.
Upon opening the account, the merchant must inform the president of the number of the account and of the place where it is held and transmit to him the undertaking of the authorized trust company.
The undertaking must be in conformity with the model prescribed by regulation.
1988, c. 45, s. 2; 2018, c. 23, ss. 784 and 786; 2017, c. 24, s. 61.
260.9. The reserve account must remain open at all times in Québec with a trust company authorized under the Trust Companies and Savings Companies Act (chapter S-29.02) which has made a written undertaking that it will assume the duties, obligations and responsibilities imposed on it by this Act with respect to the sums entrusted to it by the merchant.
Upon opening the account, the merchant must inform the president of the number of the account and of the place where it is held and transmit to him the undertaking of the authorized trust company.
The undertaking must be consistent with the model provided in Schedule 11.
1988, c. 45, s. 2; 2018, c. 23, ss. 784 and 786.
260.9. The reserve account must remain open at all times in Québec with a trust company which has made a written undertaking that it will assume the duties, obligations and responsibilities imposed on it by this Act with respect to the sums entrusted to it by the merchant.
Upon opening the account, the merchant must inform the president of the number of the account and of the place where it is held and transmit to him the undertaking of the trust company.
The undertaking must be consistent with the model provided in Schedule 11.
1988, c. 45, s. 2.
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