Bill 6 (Legislature 13, Session 4)

L13 S4 6136

Alberta — Bills

No.6 4th Session, 13th Legislature, Alberta 6 Elizabeth II, 1958 BILL 6 A Bill to amend The Edelweiss Club Act MR. GERHART Printed by L. S. 'WALL, Printer to the Queen's Most Excellent Majesty, Edmonton, Alberta, 1958

Explanatory Note General. The effect of this Bill would be to increase the borrowing capacity of the said corporation.

BILL No.6 of 1958

An Act to amend The Edelweiss Club Act (Assented to , 1958)

WHEREAS a petition has been presented praying for

Preamble the amendment of

an Act to Incorporate The Edelweiss Club, being

chapter 74 of the Statutes of Alberta, 1906, as therein set forth, and it is expedient to grant their prayer: Therefore, Her 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 Edelweiss Club Act

Short title Amendment Act, 1958". 2. The Edelweiss Club Act, being

chapter 74 of the Statutes of Alberta, 1906, is hereby amended.

Section 3 is amended by striking out the figures "$25,-

Section 3 000" and by substituting the figures "$150,000", so that amended the

section shall now read as follows: "3.

The said corporation may from time to time borrow money not to exceed in the whole the sum of ($150,000) at such rate of interest and upon such terms as they may deem proper; and may for such purpose make, execute or issue any mortgage, bonds, debentures or other instruments under the seal of the said corporation, which bonds or debentures shall operate subject to any mortgage given in part payment of the purchase money or real property acquired for a site for the club buildings or for the erection of such buildings and appurtenances thereto, as mortgages and charges against the lands and effects of the said corporation without registration; and each holder of any of the said debentures or bonds issued under the provisions of this

section shall be deemed to be a mortgagee and encumbrancer pro rata with the other holders thereof upon any interest in any real estate held by the said corporation, and also upon any such interest in any policy or policies of insurance against loss or damage by fire effected upon the buildings owned by the corporation.". 4. This Act comes into force on the day upon which it is ~omil1g. t d t mto fOI ce assen e o.

FOURTH SESSION THIRTEENTH LEGISLATURE 6 ELIZABETH II 1958 BILL

An Act to amend The Edelweiss Club Act Recei ved and read the First time ......................................... . Second time ....................................... . Third time ......................................... . MR. GERHART Title: 1958 (13th, 4th) Bill 6,

An Act to amend The Edelweiss Club Act

Document details

Collection	Alberta — Bills
Citation	L13 S4 6136
Type	bill
Volume / chapter	L13 S4 6136
Language	en
Format	json
Source	PROVINCIAL
Identifier	f6f5aac83b65a0d1127f765fd47f8caee5b31b68

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