214. No account shall be taken of immovables charged with a hypothec or otherwise in favour of the company and which it acquires to protect its interests within the meaning of section 213. However, a company cannot hold such an immovable for over seven years from the date of acquisition or beyond any additional period the Authority may allow.
The immovable must be sold or alienated otherwise during that period so that the company retains no interest in it other than as security.
1987, c. 95, s. 214; 2002, c. 45, s. 611; 2004, c. 37, s. 90.