C-77 - Act to promote credit to farm producers

Section 20 Disposition versions

1978-08-01

20. When the Bureau repays on behalf of the Government a loss resulting from a loan contracted under this act, it is plenojure subrogated in the rights, interests and privileges of the lender.

The borrower whose default entails the repayment contemplated in the first paragraph or, as the case may be, that contemplated in section 17 of the Act respecting farm-loan insurance and forestry-loan insurance shall not benefit by another loan without the prior consent of the Bureau.

1972, c. 38, s. 16; 1977, c. 5, s. 14; 1978, c. 49, s. 37.

1977-12-31

20. When the Bureau repays on behalf of the Gouvernement a loss resulting from a loan contracted under this act, it is plenojure subrogated in the rights, interests and privileges of the lender.

The borrower whose default entails such repayment shall not benefit by another loan without the prior consent of the Bureau.

1972, c. 38, s. 16; 1977, c. 5, s. 14.