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

Section 40
Disposition versions

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40. In each of the cases contemplated in section 39, the agency, if it sees fit, may claim any amount paid as a contribution to the payment of interest on the loan or any amount representing the reduction in the rate of interest, and the interest on that amount at the annual rate fixed in accordance with section 22 and specified in the deed of loan, from the date of that payment or reduction. In such a case, the lender does not necessarily forfeit the benefit of a financial commitment repayment guarantee provided for by subparagraph 5.1 of the first paragraph of section 19 of the Act respecting La Financière agricole du Québec (chapter L-0.1).
1983, c. 16, s. 40; 1992, c. 32, s. 43; 2000, c. 53, s. 66; 2011, c. 16, s. 22.
40. In each of the cases contemplated in section 39, the agency, if it sees fit, may claim any amount paid as a contribution to the payment of interest on the loan or any amount representing the reduction in the rate of interest, and the interest on that amount at the annual rate fixed in accordance with section 22 and specified in the deed of loan, from the date of that payment or reduction. In such a case, the lender does not necessarily forfeit the benefit of the loan insurance contemplated in section 4 of the Act respecting farm-loan insurance and forestry-loan insurance (chapter A-29.1).
1983, c. 16, s. 40; 1992, c. 32, s. 43; 2000, c. 53, s. 66.
40. In each of the cases contemplated in section 39, the Société, if it sees fit, may claim any amount paid as a contribution to the payment of interest on the loan or any amount representing the reduction in the rate of interest, and the interest on that amount at the annual rate fixed in accordance with section 22 and specified in the deed of loan, from the date of that payment or reduction. In such a case, the lender does not necessarily forfeit the benefit of the loan insurance contemplated in section 4 of the Act respecting farm-loan insurance and forestry-loan insurance (chapter A-29.1).
1983, c. 16, s. 40; 1992, c. 32, s. 43.
40. In each of the cases contemplated in section 39, the Office, if it sees fit, may claim any amount paid as a contribution to the payment of interest on the loan or any amount representing the reduction in the rate of interest, and the interest on that amount at the annual rate fixed in accordance with section 22 and specified in the deed of loan, from the date of that payment or reduction. In such a case, the lender does not necessarily forfeit the benefit of the loan insurance contemplated in section 4 of the Act respecting farm-loan insurance and forestry-loan insurance (chapter A-29.1).
1983, c. 16, s. 40.
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