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C-75.1 - Act to promote long term farm credit by private institutions

Section 26
Disposition versions

Full text
26. The Fonds shall guarantee the lender, in accordance with the Act respecting farm-loan insurance and forestry-loan insurance (chapter A-29.1) the repayment of losses in principal and interest resulting from a loan as well as expenditures incurred by the lender to protect his securities or to claim or obtain from the debtor in default the sums owing to him or that have become payable on the loan.
In the cases provided for in the same act, an insurance charge fixed in accordance with the regulations made under the said act is payable to the Fonds out of the proceeds of the loan on its disbursement.
1978, c. 50, s. 26.
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