Part 6 — Special Seizure Mechanisms
50 Division 1 Property Other than Securities Cash and instruments
instruments, the following applies:
(a) seized cash may not be distributed as enforcement proceeds
until the expiration of the time within which the
enforcement debtor may serve a notice of objection in
accordance with section 46(1);
(b) the seizure of an instrum ent constitutes the agency that
seized the instrument as the irrevocable agent of the
enforcement debtor for the purpose of liquidating the
instrument;
(c) without restricting the generality of clause (b), the agency
that seized an instrument may do one or more of the
following as if the agency had been specifically authorized
by the enforcement debtor to do so:
(i) present the instrument fo r payment and receive payment
on it;
(ii) sue any person liable on t he instrument in the name of
the debtor;
(iii) negotiate the instrument;
(d) an agency that endorses an instrument on behalf of the
enforcement debtor must do so in a manner that will exclude
recourse against the enforcement debtor.
1994 cC-10.5 s50