Marginal note:Policies re security interests
419 (1) The directors of a bank shall establish and the bank shall adhere to policies regarding the creation of security interests in property of the bank to secure obligations of the bank and the acquisition by the bank of beneficial interests in property that is subject to security interests.
Marginal note:Order to amend policies
(2) The Superintendent may, by order, direct a bank to amend its policies as specified in the order.
Marginal note:Compliance
(3) A bank shall comply with an order made under subsection (2) within the time specified in the order.
- 1991, c. 46, s. 419
- 2001, c. 9, s. 107
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