Acts and Regulations

C-13 - Companies Act

Section 61
Disposition versions

Full text
Shares held in trust
61(1)The company is not bound to see to the execution of any trust, whether express, implied or constructive, in respect of any share.
61(2)The receipt of the shareholder in whose name the share stands in the books of the company is a valid and binding discharge to the company for any dividend or money payable in respect of such share whether notice of such trust has been given to the company or not.
61(3)The company is not bound to see to the application of the money paid upon such receipt.
R.S., c.33, s.60
Shares held in trust
61(1)The company is not bound to see to the execution of any trust, whether express, implied or constructive, in respect of any share.
61(2)The receipt of the shareholder in whose name the share stands in the books of the company is a valid and binding discharge to the company for any dividend or money payable in respect of such share whether notice of such trust has been given to the company or not.
61(3)The company is not bound to see to the application of the money paid upon such receipt.
R.S., c.33, s.60