C-77.1 - Aquaculture Credit Act

Section 10 Disposition versions

2999-12-31

10. Where the term for the repayment of a loan exceeds five years, the lender may, at the expiry of every five-year period included in the term, counting from the date of the deed of loan, demand repayment of the balance then due on the loan, provided 90 days’ notice is given to the borrower and to the Office.

Service of the notice contemplated in the first paragraph must be made by mail in accordance with article 140 of the Code of Civil Procedure (chapter C-25).

1984, c. 21, s. 10.