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Canada Deposit Insurance Corporation Act

Version of section 39.151 from 2012-05-24 to 2024-05-28:

Marginal note:Stay of proceedings — bridge institution

  •  (1) Any action or other civil proceeding before a judicial or quasi-judicial body and any arbitration, to which a bridge institution may become a party by virtue of acquiring an asset or assuming a liability of the federal member institution shall be stayed for a period of 90 days from the day on which the bridge institution acquires the asset or assumes the liability.

  • Marginal note:Waiver

    (2) The bridge institution may waive the stay referred to in subsection (1).

  • 1992, c. 26, s. 11
  • 1996, c. 6, s. 41
  • 2009, c. 2, s. 246
  • 2012, c. 5, s. 199

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