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F-3.2.0.4 - Act respecting security funds

Section 41
Disposition versions

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41. The fund may acquire and hold debts secured by hypothec on landed property situated in Québec,
(1)  if payment of these debts in principal and interest is guaranteed or assured by Québec or Canada;
(2)  in the case of a hypothec ranking first, if the amount of the debt is not more than 75% of the value of the landed property securing payment of it; or
(3)  in the case of a hypothec ranking first, if the amount by which the value of the landed property securing payment of the hypothec exceeds 75% of that value is guaranteed or assured by Québec, Canada, the Canada Mortgage and Housing Corporation, the Société d’habitation du Québec or by a hypothec or mortgage insurance policy issued by an insurance company licensed under the Act respecting insurance (chapter A-32).
1979, c. 53, s. 41; S.C. 1978-79, c. 16, s. 12; 1999, c. 40, s. 90.
41. The corporation may acquire and hold debts secured by hypothec on real estate situated in Québec,
(1)  if payment of these debts in principal and interest is guaranteed or assured by Québec or Canada;
(2)  in the case of a hypothec ranking first, if the amount of the debt is not more than 75% of the value of the real estate securing payment of it; or
(3)  in the case of a hypothec ranking first, if the amount by which the value of the real estate securing payment of the hypothec exceeds 75% of that value is guaranteed or assured by Québec, Canada, the Canada Mortgage and Housing Corporation, the Société d’habitation du Québec or by a hypothec or mortgage insurance policy issued by an insurance company licensed under the Act respecting insurance (chapter A-32).
1979, c. 53, s. 41; S.C. 1978-79, c. 16, s. 12.
41. The corporation may acquire and hold debts secured by hypothec on real estate situated in Québec,
(1)  if payment of these debts in principal and interest is guaranteed or assured by Québec or Canada;
(2)  in the case of a hypothec ranking first, if the amount of the debt is not more than 75% of the value of the real estate securing payment of it; or
(3)  in the case of a hypothec ranking first, if the amount by which the value of the real estate securing payment of the hypothec exceeds 75% of that value is guaranteed or assured by Québec, Canada, the Central Mortgage and Housing Corporation, the Société d’habitation du Québec or by a hypothec or mortgage insurance policy issued by an insurance company licensed under the Act respecting insurance (chapter A-32).
1979, c. 53, s. 41.
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