C-75 - Farm Credit Act

Section 27 Disposition versions

1987-02-15

27. A representative or an employee designated by the Bureau may, at any reasonable time, inspect the immovables hypothecated or the property pledged. He may do so at any time if it is required, in the circumstances, to protect a claim or the property securing the loan or to ensure that the borrower’s operation is carried on.

Moreover, in the absence of maintenance or in case of deterioration entailing a depreciation of the security, he may do, at the borrower’s expense, any work and repairs and take any step he considers necessary to ensure that the property is kept in good condition and that the operation is carried on.

The representative or the employee designated by the Bureau shall, on request, identify himself and produce a certificate of his capacity issued by the Bureau.

1972, c. 32, s. 6; 1986, c. 95, s. 122.

1977-12-31

27. The Bureau may, by its representatives or employees, make at any time an inspection of the immoveables hypothecated or property pledged, and in default of maintenance or in case of deterioration entailing diminished security, do at the borrower’s expense, any work and repairs and take any step which it considers necessary to ensure their maintenance in good condition and the keeping of the operation functioning.

1972, c. 32, s. 6.