S-29.02, r. 1 - Regulation under the Trust Companies and Savings Companies Act

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21. For the application of section 212 of the Act, the expression “overdue loan” means:
(1)  a loan on which the interest is 90 days or more overdue;
(2)  a loan on which the interest is overdue and ultimate recovery is uncertain;
(3)  a loan of which the initial contractual provisions were altered by reason of the debtor’s default.
The expression does not include a loan that is a mortgage loan of which the repayment is approved or insured within the meaning of the National Housing Act (R.S.C. 1985, c. N-11) or guaranteed or insured by the Government of Québec, another Canadian province, Canada, a territory of Canada or one of their agencies, or under a mortgage insurance policy issued by an insurance company authorized to carry on its activities in Canada.
O.C. 719-88, s. 21.