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S-29.01 - Act respecting trust companies and savings companies

Section 191
Disposition versions

Full text
191. No Québec company may hypothecate its property or the property allocated to the payment of deposits unless it does so
(1)  to secure a loan contracted to meet its short-term liquidity needs;
(2)  to acquire or improve an immovable intended for its own use, in which case the security must affect only the immovable;
(3)  in respect of an advance made under the Canada Deposit Insurance Corporation Act (Revised Statutes of Canada, 1985, chapter C-3) or the Deposit Insurance Act (chapter A-26);
(4)  in favour of the Gouvernement du Québec or the Government of Canada in respect of the subscription of savings bonds;
(5)  in cases provided for by regulation of the Government.
1987, c. 95, s. 191; 1992, c. 57, s. 696.
191. No Québec company may pledge, hypothecate or pawn its property or the property allocated to the payment of deposits unless it does so
(1)  to secure a loan contracted to meet its short-term liquidity needs;
(2)  to acquire or improve an immovable intended for its own use, in which case the security must affect only the immovable;
(3)  in respect of an advance made under the Canada Deposit Insurance Corporation Act (Revised Statutes of Canada, 1985, chapter C-3) or the Deposit Insurance Act (chapter A-26);
(4)  in favour of the Gouvernement du Québec or the Government of Canada in respect of the subscription of savings bonds;
(5)  in cases provided for by regulation of the Government.
1987, c. 95, s. 191.
191. No Québec company may pledge, hypothecate or pawn its property or the property allocated to the payment of deposits unless it does so
(1)  to secure a loan contracted to meet its short-term liquidity needs;
(2)  to acquire or improve an immovable intended for its own use, in which case the security must affect only the immovable;
(3)  in respect of an advance made under the Canada Deposit Insurance Corporation Act (Revised Statutes of Canada, 1970, chapter C-3) or the Deposit Insurance Act (chapter A-26);
(4)  in favour of the Gouvernement du Québec or the Government of Canada in respect of the subscription of savings bonds;
(5)  in cases provided for by regulation of the Government.
1987, c. 95, s. 191.
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