Canada Business Corporations Act

Version of section 75 from 2003-01-01 to 2011-11-28:

Marginal note:No conversion if good faith delivery by agent

 An agent or bailee who in good faith, including observance of reasonable commercial standards if the agent or bailee is in the business of buying, selling or otherwise dealing with securities of a corporation, has received securities and sold, pledged or delivered them according to the instructions of their principal is not liable for conversion or for participation in breach of fiduciary duty although the principal has no right to dispose of them.

  • R.S., 1985, c. C-44, s. 75;
  • 2001, c. 14, ss. 33(F), 135(E).
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