C-77 - Act to promote credit to farm producers

Section 4 Disposition versions

1983-06-08

4. Any bank or credit union may grant to a borrower, for one or more of the purposes mentioned in section 8, a loan or a line of credit which, except in the cases contemplated in section 4.1, must not exceed $100 000.

1974, c. 33, s. 3; 1978, c. 46, s. 1; 1983, c. 8, s. 1.

1978-08-01

4. A bank or a credit union may grant to a borrower, for one or more of the purposes mentioned in section 8, a loan or credit opening which must in no case exceed $100,000.

A borrower who has obtained one or more loans which have not been completely repaid shall not obtain any other loan except from the same lender.

Subject to the second paragraph, one and the same borrower may obtain more than one loan, provided that the amount of the last loan obtained by him, added to the balance owing in principal, by succession or otherwise, on a loan previously obtained and determined as provided in section 6, never exceeds a maximum of $100,000.

1974, c. 33, s. 3; 1978, c. 46, s. 1.

1977-12-31

4. A bank or a credit union may grant to a borrower, for one or more of the purposes mentioned in section 8, a loan or credit opening which must in no case exceed $50,000.

A borrower who has obtained one or more loans which have not been completely repaid shall not obtain any other loan except from the same lender.

1974, c. 33, s. 3.