Bill ID 2153 (Legislature 23, Session 3)

L23 S3 2153

Alberta — Bills

1995 BILL Pr9 Third Session, 23rd Legislature, 44 Elizabeth II THE LEGISLATIVE ASSEMBLY O F ALBERTA BILL Pr9 UNIVERSITY OF CALGARY AND UNIVERSITY OF ALBERTA CHARITABLE ANNUITY ACT MRS. LAING First Reading Second Reading Committee of the Whole Third Reading Royal Assent Title: 1995 (23rd, 3rd) Bill Pr9, University of Calgary and University of Albert Annuity Act a Charitable Bill Pr9 Mrs. Laing BILL Pr9 UNIVERSITY OF CALGARY AND UNIVERSITY OF ALBERTA CHARITABLE ANNUITY ACT (Assented to , 1995)

WHEREAS the University of Calgary and the University of Alberta are universities under

section of the Universities Act, being

chapter U-5 of the Revised Statutes of Alberta, 1980; and

WHEREAS the University of Calgary and the University of Alberta have the power to accept charitable donations and issue annuities under sections and of the Universities Act, being

chapter U-5 of the Revised Statutes of Alberta, 1980; and

WHEREAS by their petition the University of Calgary and the University of Alberta have prayed that it be enacted as herein set forth and it is expedient to grant the prayer of the petition; THEREFORE HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1 The University of Calgary may receive and hold for its benefit sums of money in consideration of the payment, during the life of the donor or during any other period, of interest thereon at such rate as may from time to time be agreed upon or in consideration of the payment of an annuity or annuities, for a term certain or for a period terminating on the earlier of a specified date and the death of the donor, to any person or persons in respect thereof and, provided the payments and annuities are for a term certain or for a period terminating on the earlier of a specified date and the death of the donor, the payment and the annuity shall be deemed not to be life insurance under

section 1(m.1) or 240.1 of the Insurance Act. 2 The University of Alberta may receive and hold for its benefit sums of money in consideration of the payment, during the life of the donor or during any other period, of interest thereon at such rate as may from time to time be agreed upon or in consideration of the payment of an annuity or annuities, for a term certain or for a period terminating on the earlier of a specified date and the death of the donor, to any person or persons in respect thereof and, provided the payments and annuities are for a term certain or for a period terminating on the earlier of a specified date and the death of the donor, the payment and the annuity shall be deemed not to be life insurance under

section 1(m.1) or 240.1 of the Insurance Act. 2 Title: 1995 (23rd, 3rd) Bill Pr9, University of Calgary and University of Alberta Charitable Annuity Act

Document details

Collection	Alberta — Bills
Citation	L23 S3 2153
Type	bill
Volume / chapter	L23 S3 2153
Language	en
Format	json
Source	PROVINCIAL
Identifier	d20a94318622da569a96c5fb953920cef6d84842

Source file is stored in the law ingest library (json).