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

Section 37
Disposition versions

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37. In addition to the powers conferred on it by this Act, the agency may
(1)  receive and examine any application for a certificate in view of obtaining a loan;
(2)  appraise, in accordance with the bases fixed by regulation, the property offered as security for a loan applied for and establish the maximum amount of the loan;
(3)  indicate, in each case, the conditions of the loan and the part of the sum lent to be used for one or other of the purposes contemplated in section 14, and fix or prolong, in each case, the period during which a borrowing may be contracted from the date of issue of a certificate;
(4)  examine the titles of ownership of the property serving as security for the loan, revise any report of examination of the titles concerning the immovable securities and verify the charges encumbering the movable securities;
(5)  act as the mandatary of a lender to claim from any debtor in default and, where such is the case, from any surety of the debtor, the sums owing to such lender or that have become payable on a loan, to make or bring, for such purpose, any demand, action or other proceeding or, in such capacity, to act in defence against any demand, action or other proceeding and to acquire any hypothecated immovable or movable, and administer, sell or lease such immovable or property or otherwise dispose of it by onerous title;
(6)  acquire any immovable hypothecated to secure a loan, either at a forced sale or directly from the lender following his acquisition of it at the sale under judicial authority or following a taking in payment, and administer, sell or lease that immovable or otherwise dispose of it by onerous title;
(7)  act as lender if a lender refuses to grant all or part of a loan and, for such purpose, exercise all the rights and powers granted to the lender under this Act.
1983, c. 16, s. 37; 1992, c. 32, s. 43; 1992, c. 57, s. 544; 2000, c. 53, s. 66; I.N. 2016-01-01 (NCCP).
37. In addition to the powers conferred on it by this Act, the agency may
(1)  receive and examine any application for a certificate in view of obtaining a loan;
(2)  appraise, in accordance with the bases fixed by regulation, the property offered as security for a loan applied for and establish the maximum amount of the loan;
(3)  indicate, in each case, the conditions of the loan and the part of the sum lent to be used for one or other of the purposes contemplated in section 14, and fix or prolong, in each case, the period during which a borrowing may be contracted from the date of issue of a certificate;
(4)  examine the titles of ownership of the property serving as security for the loan, revise any report of examination of the titles concerning the immovable securities and verify the charges encumbering the movable securities;
(5)  act as the mandatary of a lender to claim from any debtor in default and, where such is the case, from any surety of the debtor, the sums owing to such lender or that have become payable on a loan, to make or bring, for such purpose, any demand, action or other proceeding or, in such capacity, to act in defence against any demand, action or other proceeding and to acquire any hypothecated immovable or movable, and administer, sell or lease such immovable or property or otherwise dispose of it by onerous title;
(6)  acquire any immovable hypothecated to secure a loan, either at a forced sale or directly from the lender following his acquisition of it at a forced sale or following a taking in payment, and administer, sell or lease that immovable or otherwise dispose of it by onerous title;
(7)  act as lender if a lender refuses to grant all or part of a loan and, for such purpose, exercise all the rights and powers granted to the lender under this Act.
1983, c. 16, s. 37; 1992, c. 32, s. 43; 1992, c. 57, s. 544; 2000, c. 53, s. 66.
37. In addition to the powers conferred on it by this Act, the Société may
(1)  receive and examine any application for a certificate in view of obtaining a loan;
(2)  appraise, in accordance with the bases fixed by regulation, the property offered as security for a loan applied for and establish the maximum amount of the loan;
(3)  indicate, in each case, the conditions of the loan and the part of the sum lent to be used for one or other of the purposes contemplated in section 14, and fix or prolong, in each case, the period during which a borrowing may be contracted from the date of issue of a certificate;
(4)  examine the titles of ownership of the property serving as security for the loan, revise any report of examination of the titles concerning the immovable securities and verify the charges encumbering the movable securities;
(5)  act as the mandatary of a lender to claim from any debtor in default and, where such is the case, from any surety of the debtor, the sums owing to such lender or that have become payable on a loan, to make or bring, for such purpose, any demand, action or other proceeding or, in such capacity, to act in defence against any demand, action or other proceeding and to acquire any hypothecated immovable or movable, and administer, sell or lease such immovable or property or otherwise dispose of it by onerous title;
(6)  acquire any immovable hypothecated to secure a loan, either at a forced sale or directly from the lender following his acquisition of it at a forced sale or following a taking in payment, and administer, sell or lease that immovable or otherwise dispose of it by onerous title;
(7)  act as lender if a lender refuses to grant all or part of a loan and, for such purpose, exercise all the rights and powers granted to the lender under this Act.
1983, c. 16, s. 37; 1992, c. 32, s. 43; 1992, c. 57, s. 544.
37. In addition to the powers conferred on it by this Act, the Société may
(1)  receive and examine any application for a certificate in view of obtaining a loan;
(2)  appraise, in accordance with the bases fixed by regulation, the property offered as security for a loan applied for and establish the maximum amount of the loan;
(3)  indicate, in each case, the conditions of the loan and the part of the sum lent to be used for one or other of the purposes contemplated in section 14, and fix or prolong, in each case, the period during which a borrowing may be contracted from the date of issue of a certificate;
(4)  examine the titles of ownership of the property serving as security for the loan, revise any report of examination of the titles concerning the immovable securities and verify the charges encumbering the movable securities;
(5)  act as the mandatary of a lender to claim from any debtor in default and, where such is the case, from any surety of the debtor, the sums owing to such lender or that have become payable on a loan, to make or bring, for such purpose, any demand, action or other proceeding or, in such capacity, to act in defence against any demand, action or other proceeding and to acquire any hypothecated immovable or pledged property, and administer, sell or lease such immovable or property or otherwise dispose of it by onerous title;
(6)  acquire any immovable hypothecated to secure a loan, either at a sheriff’s sale or directly from the lender following his acquisition of it at a sheriff’s sale or pursuant to a giving in payment clause, and administer, sell or lease that immovable or otherwise dispose of it by onerous title;
(7)  act as lender if a lender refuses to grant all or part of a loan and, for such purpose, exercise all the rights and powers granted to the lender under this Act.
1983, c. 16, s. 37; 1992, c. 32, s. 43.
37. In addition to the powers conferred on it by this Act, the Office may
(1)  receive and examine any application for a certificate in view of obtaining a loan;
(2)  appraise, in accordance with the bases fixed by regulation, the property offered as security for a loan applied for and establish the maximum amount of the loan;
(3)  indicate, in each case, the conditions of the loan and the part of the sum lent to be used for one or other of the purposes contemplated in section 14, and fix or prolong, in each case, the period during which a borrowing may be contracted from the date of issue of a certificate;
(4)  examine the titles of ownership of the property serving as security for the loan, revise any report of examination of the titles concerning the immovable securities and verify the charges encumbering the movable securities;
(5)  act as the mandatary of a lender to claim from any debtor in default and, where such is the case, from any surety of the debtor, the sums owing to such lender or that have become payable on a loan, to make or bring, for such purpose, any demand, action or other proceeding or, in such capacity, to act in defence against any demand, action or other proceeding and to acquire any hypothecated immovable or pledged property, and administer, sell or lease such immovable or property or otherwise dispose of it by onerous title;
(6)  acquire any immovable hypothecated to secure a loan, either at a sheriff’s sale or directly from the lender following his acquisition of it at a sheriff’s sale or pursuant to a giving in payment clause, and administer, sell or lease that immovable or otherwise dispose of it by onerous title;
(7)  act as lender if a lender refuses to grant all or part of a loan and, for such purpose, exercise all the rights and powers granted to the lender under this Act.
1983, c. 16, s. 37.
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