Acts and Regulations

2011, c.195 - New Brunswick Public Libraries Foundation Act

Full text
Winding-up
18On the winding-up of the Foundation, its assets shall be applied as follows:
(a) firstly, to pay the costs of winding-up;
(b) secondly, to pay the liabilities of the Foundation;
(c) thirdly, with respect to any remaining assets that were gifts received by the Foundation in relation to a particular public library, by transferring those assets with any accrued income to the Public Library Board; and
(d) fourthly, by transferring any remaining property to the Crown.
1997, c.N-7.1, s.18
Winding-up
18On the winding-up of the Foundation, its assets shall be applied as follows:
(a) firstly, to pay the costs of winding-up;
(b) secondly, to pay the liabilities of the Foundation;
(c) thirdly, with respect to any remaining assets that were gifts received by the Foundation in relation to a particular public library, by transferring those assets with any accrued income to the Public Library Board; and
(d) fourthly, by transferring any remaining property to the Crown.
1997, c.N-7.1, s.18