Acts and Regulations

B-9.1 - Business Corporations Act

Section 153
Disposition versions

Full text
Distribution of property to creditor or shareholder who cannot be found
153(1)Upon the dissolution of a corporation, the portion of the property distributable to a creditor or shareholder who cannot be found shall be either converted into money and paid to the Minister of Finance and Treasury Board or transferred, delivered or conveyed to the Crown in right of the Province.
153(2)A payment under subsection (1) shall be deemed to be in satisfaction of a debt or claim of such creditor or shareholder.
153(3)If at any time a person establishes that he is entitled to any money paid to the Minister of Finance and Treasury Board under this section, the Minister of Finance and Treasury Board shall pay an equivalent amount to him out of the Consolidated Fund.
1991, c.27, s.5; 2019, c.29, s.18; 2023, c.2, s.155; 2023, c.17, s.17
Distribution of property to creditor or shareholder who cannot be found
153(1)Upon the dissolution of a corporation, the portion of the property distributable to a creditor or shareholder who cannot be found shall be either converted into money and paid to the Minister of Finance and Treasury Board or transferred, delivered or conveyed to Her Majesty in right of New Brunswick.
153(2)A payment under subsection (1) shall be deemed to be in satisfaction of a debt or claim of such creditor or shareholder.
153(3)If at any time a person establishes that he is entitled to any money paid to the Minister of Finance and Treasury Board under this section, the Minister of Finance and Treasury Board shall pay an equivalent amount to him out of the Consolidated Fund.
1991, c.27, s.5; 2019, c.29, s.18
Distribution of property to creditor or shareholder who cannot be found
153(1)Upon the dissolution of a corporation, the portion of the property distributable to a creditor or shareholder who cannot be found shall be either converted into money and paid to the Minister of Finance or transferred, delivered or conveyed to Her Majesty in right of New Brunswick.
153(2)A payment under subsection (1) shall be deemed to be in satisfaction of a debt or claim of such creditor or shareholder.
153(3)If at any time a person establishes that he is entitled to any money paid to the Minister of Finance under this section, the Minister of Finance shall pay an equivalent amount to him out of the Consolidated Fund.
1991, c.27, s.5
Distribution of property to creditor or shareholder who cannot be found
153(1)Upon the dissolution of a corporation, the portion of the property distributable to a creditor or shareholder who cannot be found shall be either converted into money and paid to the Minister of Finance or transferred, delivered or conveyed to Her Majesty in right of New Brunswick.
153(2)A payment under subsection (1) shall be deemed to be in satisfaction of a debt or claim of such creditor or shareholder.
153(3)If at any time a person establishes that he is entitled to any money paid to the Minister of Finance under this section, the Minister of Finance shall pay an equivalent amount to him out of the Consolidated Fund.
1991, c.27, s.5