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

Section 41 Disposition versions

1978-08-01

41. Subject to all the powers of the Office under this act and to every restriction provided in any act that is applicable to the lender, the latter may, after an agreement with the Office, assign or transfer to any person as security for a loan, all or part of the debts owing to him from loans, or sell to any person all or part of the said debts, provided that the person to whom the assignment, transfer or sale is made gives the lender the mandate of administering the loans that are the subject of such assignment, transfer or sale and that, to that end, the lender and the Office may continue to exercise, in respect of such loans, all the powers conferred on them by this act.

1978, c. 50, s. 41.