Hyperlawhypertext legal database Bank Act

← Historical versions

Versions of s. 419(1)

B-1.01 — Bank Act · 2 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

  1. 2004-01-01 to present available View Source
    SubjectThe todirectors subsection (3),of a bank shall notestablish createand athe bank shall adhere to policies regarding the creation of security interestinterests in any property of the bank to secure an obligationobligations of the bank,bank unlessand the acquisition by the bank of beneficial interests in property that is subject to security interests.
    Full text

    The directors of a bank shall establish and the bank shall adhere to policies regarding the creation of security interests in property of the bank to secure obligations of the bank and the acquisition by the bank of beneficial interests in property that is subject to security interests.

  2. 2003-01-01 to 2004-01-01 View Source

    Subject to subsection (3), a bank shall not create a security interest in any property of the bank to secure an obligation of the bank, unless