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C-78.1 - Act to promote forest credit by private institutions

Section 11
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11. Subject to section 9, in no case may the part of the loan secured by hypothec exceed 90% of the value, as determined by the agency, of the forest offered as security, and, subject to section 12, in no case may the part of the loan secured exclusively by movable property exceed the lesser of the following amounts:
(1)  $200,000; and
(2)  an amount equivalent to 90% of the value of the hypothecated property, as determined by the agency.
1983, c. 16, s. 11; 1992, c. 32, s. 43; 1992, c. 57, s. 540; 2000, c. 53, s. 66.
11. Subject to section 9, in no case may the part of the loan secured by hypothec exceed 90 % of the value, as determined by the Société, of the forest offered as security, and, subject to section 12, in no case may the part of the loan secured exclusively by movable property exceed the lesser of the following amounts:
(1)  $200 000; and
(2)  an amount equivalent to 90 % of the value of the hypothecated property, as determined by the Société.
1983, c. 16, s. 11; 1992, c. 32, s. 43; 1992, c. 57, s. 540.
11. Subject to section 9, in no case may the part of the loan secured by hypothec exceed 90 % of the value, as determined by the Société, of the forest offered as security, and, subject to section 12, in no case may the part of the loan secured exclusively by movable property exceed the lesser of the following amounts:
(1)  $200 000; and
(2)  an amount equivalent to 90 % of the value of the pledged property, as determined by the Société.
1983, c. 16, s. 11; 1992, c. 32, s. 43.
11. Subject to section 9, in no case may the part of the loan secured by hypothec exceed 90% of the value, as determined by the Office, of the forest offered as security, and, subject to section 12, in no case may the part of the loan secured exclusively by movable property exceed the lesser of the following amounts:
(1)  $200 000; and
(2)  an amount equivalent to 90% of the value of the pledged property, as determined by the Office.
1983, c. 16, s. 11.
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