Government of Canada / Gouvernement du Canada
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Bank Act

Version of section 149 from 2003-01-01 to 2012-12-18:

Marginal note:Representative shareholder

  •  (1) If an entity is a shareholder of a bank, the bank shall recognize any natural person authorized by a resolution of the directors or governing body or similar authority of the entity to represent it at meetings of shareholders of the bank.

  • Marginal note:Idem

    (2) A natural person authorized under subsection (1) to represent an entity may exercise on behalf of the entity all the powers the entity could exercise if it were a natural person as well as a shareholder.

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