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

Section 9 Disposition versions

1978-08-01

9. A loan may be granted for one or more of the following purposes:

(a)  purchase of farms or parts of farms;

(b)  purchase of livestock, farm implements, agricultural tools or machinery, farm equipment, farm tractors, bulldozers, trucks, pick-ups and any motor vehicle habitually used on a farm, appropriate for the agricultural operations of the borrower, except any motor vehicle intended as a pleasure vehicle, passenger transport vehicle or recreation vehicle;

(c)  construction or repair of farm buildings;

(d)  clearing of land, drainage or any other permanent improvement designed to increase the productivity of the farm;

(e)  consolidation of debts incurred for any agricultural purpose which, in the opinion of the Office, is consistent with the agricultural operations of the borrower;

(f)  any other purpose which, in the opinion of the Office, may render the operation of the farm more efficient.

1978, c. 50, s. 9.