104. Except with the authorization of the Agence nationale d’encadrement du secteur financier and on such conditions as it may determine, no company may grant a loan if the total of its borrowings exceeds 1% of its deposit liabilities, or any higher percentage fixed by regulation, but not over 5%.
Any borrowing determined by regulation is deducted from the total of the company’s borrowings.
1981, c. 31, s. 104; 1982, c. 52, s. 246; 2002, c. 45, s. 564.