S-30.1 - Act respecting municipal and intermunicipal transit authorities

Section 101 Disposition versions

1999-10-22

101. The facsimile of the signature of the president may be engraved, lithographed or printed on the bonds and such facsimile has the same effect as if the signature itself had been affixed thereto.

The facsimile of the signatures of the president and of the secretary of the transit authority may be engraved, lithographed or printed on the bond coupons issued by the transit authority and such facsimile has the same effect as if the signatures themselves had been affixed thereto.

If a person whose signature or a facsimile of whose signature is affixed to a bond, note or other security of the transit authority or on a coupon, as president or secretary of the transit authority, ceases to act as such before such bond, note, other security or coupon is issued and delivered, that signature is nevertheless valid and binds the transit authority as if such person had continued to act in that capacity on the date of such issue and delivery and the signature or facsimile of the signature of any person acting in that capacity on the date when such signature or facsimile of the signature is affixed to a bond, note, coupon or other security of the transit authority binds it although on the date of such bond, coupon, note or other security, such person was not acting in that capacity.

The president or any other person authorized by resolution of the transit authority shall sign the cheques it issues. The facsimile of the signature of the president or the authorized person may be engraved, lithographed or printed on the cheques with the same effect as if the signature itself had been affixed thereto.

1977, c. 64, s. 101; 1999, c. 40, s. 91.

1977-12-31

101. The facsimile of the signature of the president may be engraved, lithographed or printed on the bonds and such facsimile has the same effect as if the signature itself had been affixed thereto.

The facsimile of the signatures of the president and of the secretary of the corporation may be engraved, lithographed or printed on the bond coupons issued by the corporation and such facsimile has the same effect as if the signatures themselves had been affixed thereto.

If a person whose signature or a facsimile of whose signature is affixed to a bond, note or other security of the corporation or on a coupon, as president or secretary of the corporation, ceases to act as such before such bond, note, other security or coupon is issued and delivered, that signature is nevertheless valid and binds the corporation as if such person had continued to act in that capacity on the date of such issue and delivery and the signature or facsimile of the signature of any person acting in that capacity on the date when such signature or facsimile of the signature is affixed to a bond, note, coupon or other security of the corporation binds it although on the date of such bond, coupon, note or other security, such person was not acting in that capacity.

The president or any other person authorized by resolution of the corporation shall sign the cheques it issues. The facsimile of the signature of the president or the authorized person may be engraved, lithographed or printed on the cheques with the same effect as if the signature itself had been affixed thereto.

1977, c. 64, s. 101.