Bill 86 (Legislature 7, Session 5)

L7 S5 8574

Alberta — Bills

Bill No. 86 of 1935. A BILL TO AMEND THE EXEMPTIONS ACT NOTE. This Bill gives a person who has mortgaged chattels de scribed in

section of The Exemptions Act as being exempt from seizure under execution the same right to claim them as exempt upon seizure being made under the chattel mortgage as if the seizure were made under an execution. The provision extends to chattel mortgages given hereto fore to secure past due indebtedness. R. ANDREW SMITH, Legislative Counsel. (This note does not form (my part of the Bill and is offered merely as a partial explanation of some of its provisions.). BILL No. 86 of 1935.

An Act to amend The Exemptions Act. (Assented to , 1935.) HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. This Act may be cited as "The Exemptions Act Amend ment Act, 1935." 2. The Exemptions Act, being

chapter of the Revised Statutes of Alberta, 1922, is hereby amended by inserting therein, immediately after

section thereof, the following new section: "3a.-

(1) Notwithstanding anything contained in any Act in force in the Province or in any agreement to the con trary any person who hereafter executes any chattel mort gage of any of the chattels mentioned in

section of this Act shall, in case of seizure under the mortgage, have the right to claim as exempt from seizure and from sale any such chattels covered by the mortgage which cannot be seized or sold without depriving the mortgagor of the number or part of the number of the kind of such chattels which by virtue of

section of this Act he may hold free from seizure under execution. "

(2) The provisions of this

section shall apply to any mortgage made at any time prior to the coming into force of this Act for securing the payment of any indebtedness which was past due at the time the mortgage was made." 3. This Act shall come into force on the day upon which it is assented to. No. 86. FIFTH SESSION SEVENTH LEGISLATURE GEORGE V BILL

An Act to amend The Exemptions Act. Received and read the First time ................... . Second time ................. . Third time .................. . HON. MR. LYMBURN EDMONTON: W. D. McLEAN, KING'S PRINTER Title:1935 (7th, 5th) Bill 86,

An Act to amend The Exemptions Act

Document details

Collection	Alberta — Bills
Citation	L7 S5 8574
Type	bill
Volume / chapter	L7 S5 8574
Language	en
Format	json
Source	PROVINCIAL
Identifier	e38cf8f012cdd81d8059ea4f60ed5f81ff4fe646

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