This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 606.— The Quebec Statutes provide that where a warehouse receipt or bill of lading for grain, etc., is held as security, such grain, etc., shall not be held in pledge for any period exceeding six months. Does this provision affect banks ?
Answer.—The rights of banks in this matter are governed by the Bank Act, which no longer limits the time during which grain, etc., may be held by the bank as security. The provisions in the Provincial Acts on this point do not affect banks.