Montreal Trust Company History and Legal Framework

The Montreal Trust Company has a rich history that dates back to 1907, when it was founded in Montreal, Quebec, Canada.

Its early years were marked by a focus on providing trust and estate services to the local community, with a strong emphasis on discretion and confidentiality.

The company's founders were well-respected members of the Montreal business community, and their expertise helped establish the trust company as a trusted institution.

The Montreal Trust Company's history is closely tied to the city's economic development, with the company playing a significant role in the growth of Montreal's financial sector.

The Montreal Trust Company has a rich history that dates back to its founding by the Bank of Montreal. Donald Smith and Edward Clouston were amongst its charter board of directors.

In 1982, a second arm of Montreal Trust was formed, the Montreal Trust Company of Canada, which had a federal incorporation. This new entity was a significant development in the company's history.

In Canada, a bill becomes a law when it receives royal assent.

The process of making a law in Canada involves several steps, including introduction, debate, and passage in both the House of Commons and the Senate.

The Canadian Constitution Act of 1867 established the framework for Canada's parliamentary system, which is based on the British parliamentary system.

The Act also established the office of the Governor General, who represents the monarch and gives royal assent to bills that have passed both houses of Parliament.

In 1982, the Canada Act made significant changes to the Canadian Constitution, including the addition of the Charter of Rights and Freedoms.

The Charter enshrines fundamental rights and freedoms, such as freedom of speech and equality before the law, in the Canadian Constitution.

In 1978, Montreal Trust Company caused the incorporation of Montreal Trust Company of Canada as a subsidiary under the Trust Companies Act (Canada) by Letters Patent dated July 19th.

This subsidiary was created to take over and carry on certain business of Montreal Trust Company in the Province and other areas of Canada, with some exceptions.

Montreal Trust Company and Montreal Trust Company of Canada petitioned for special legislation to facilitate this purpose, which was granted.

Montreal Trust was founded by the Bank of Montreal, with Donald Smith and Edward Clouston serving on its charter board of directors.

The Bank of Montreal played a significant role in the establishment of Montreal Trust, providing the foundation for its growth and development.

In 1982, Power formed a second arm of Montreal Trust, the Montreal Trust Company of Canada, which had a federal incorporation.

Montreal Trust Company of Canada holds real and personal property in trust, which includes interests and rights granted to or vested in the company.

The company's role is to manage and administer these properties according to the terms of the trust, including any powers, rights, and obligations specified in the trust document.

All real and personal property held by Montreal Trust Company of Canada is vested in the company according to the tenor and time indicated by the trust document, with the same trusts and powers as were originally intended.

This means that the company has the same rights, immunities, and privileges as were granted by the trust, and is subject to the same obligations and duties.

Any suit or action currently being carried on in court or before a tribunal or agency in the Province, related to a document or trust governed by section 2, will not be discontinued due to this Act.

Montreal Trust Company of Canada can continue these proceedings in the company's name, with the same rights and liabilities as if the original company had continued them.

Any power or remedy that could have been exercised by or against Montreal Trust Company can now be brought or exercised by or against Montreal Trust Company of Canada.

This new company will have the same rights and liabilities as the original company would have had if this Act had not been enacted.

Montreal Trust Company of Canada will pay or receive the same costs and awards as the original company would have.

The Montreal Trust Company has a clear stance on rights and exemptions. The company explicitly states that it is not responsible for any damages or losses resulting from the use of its services.

As outlined in the company's policies, clients have the right to request a refund or cancellation of their services within a specified timeframe. This timeframe is typically 30 days, but it may vary depending on the specific service.

In some cases, clients may be exempt from paying certain fees, such as setup fees for new accounts. However, this exemption is usually only applicable to clients who meet specific criteria, such as being a non-profit organization.

Third parties have rights that are unaffected by this Act.

The rights of any person having a claim against Montreal Trust Company in respect of any document or trust to which section 2 applies are not affected by this Act.

This means that Montreal Trust Company is still liable for its debts, liabilities, and obligations.

Any such rights as may be enforceable in the Province may be asserted or enforced against Montreal Trust Company of Canada.

Montreal Trust Company of Canada is responsible for all debts, liabilities, and obligations of Montreal Trust Company in respect of such document or trust.

In some cases, certain rights and exemptions may not apply to you. For example, if you're a non-citizen, you may not be eligible for certain government benefits.

You're not eligible for federal student aid if you're in default on a federal student loan or owe a refund on a federal grant.

If you're in default on a federal student loan, you may not be able to get a federal student loan or grant for at least three years after you've made satisfactory payments.