Hyperlawhypertext legal database Bank Act

← Historical versions

Versions of s. 789(4)

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. 2006-11-28 to present available View Source
    If athe material contract or proposed material contracttransaction, whether entered into or proposed, is one that,that in the ordinary course of business of the bank holding company,company’s business would not require approval by the directors or shareholders, athe director or an officer referred to in subsection (1) shall disclose in writing to the bank holding companycompany, in writing or requestby requesting to have it entered in the minutes of meetingsa meeting of directors or of a committee of directors, the nature and extent of the director’s or officer’stheir interest forthwithimmediately after thethey director or officer becomesbecome aware of the contract or proposed contract.transaction.
    Full text

    If the material contract or material transaction, whether entered into or proposed, is one that in the ordinary course of the bank holding company’s business would not require approval by the directors or shareholders, the director or officer shall disclose to the bank holding company, in writing or by requesting to have it entered in the minutes of a meeting of directors or of a committee of directors, the nature and extent of their interest immediately after they become aware of the contract or transaction.

  2. 2003-01-01 to 2006-11-28 View Source

    If a material contract or proposed material contract is one that, in the ordinary course of business of the bank holding company, would not require approval by the directors or shareholders, a director or an officer referred to in subsection (1) shall disclose in writing to the bank holding company or request to have entered in the minutes of meetings of directors the nature and extent of the director’s or officer’s interest forthwith after the director or officer becomes aware of the contract or proposed contract.