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A-29.1 - Act respecting farm-loan insurance and forestry-loan insurance

Section 25.1
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25.1. Notwithstanding any legislative provision inconsistent herewith, a lender contemplated in paragraph 1 of section 5 and any other person designated by the Government under section 6 of the Act respecting farm financing (chapter F-1.2) who is subrogated to the rights of another lender in accordance with articles 1653 and 1654 of the Civil Code in respect of a loan granted under that Act is entitled to the insurance described in the first paragraph of section 4, but the powers of the agency under the third paragraph of that section, where the original lender fails to observe the provisions of the Act by virtue of which the loan was granted, or the regulations thereunder, are not hereby restricted.
The first paragraph, adapted as required, also applies in the case of a hypothec or sale referred to in section 60 of the Act respecting farm financing or section 52 of the Act to promote forest credit by private institutions (chapter C-78.1), made in accordance with such section 60 or 52, as the case may be.
Any person who is subrogated in the rights of a lender who has granted a loan under an assistance program established under the Act respecting La Financière agricole du Québec (chapter L-0.1), the Act respecting the Société de financement agricole (chapter S-11.0101) or under the forest management funding program established under section 124.37 of the Forest Act (chapter F-4.1) or to whom the debt resulting from such a loan has been transferred, is entitled to the insurance described in the first paragraph of section 4 to the same extent as the original lender, if the person is himself a lender accredited to make loans under this program. Such subrogation or transfer does not, however, restrict the power granted to the agency by the fourth paragraph of section 4 to cancel or refuse the right to the insurance, when the original lender fails to comply with the provisions of this Act or of the program under which the loan was granted.
1988, c. 3, s. 13; 1992, c. 32, s. 38, s. 43; 1992, c. 57, s. 438; 1996, c. 14, s. 24; 2000, c. 53, s. 61, s. 66.
25.1. Notwithstanding any legislative provision inconsistent herewith, a lender contemplated in paragraph 1 of section 5 and any other person designated by the Government under section 6 of the Act respecting farm financing (chapter F-1.2) who is subrogated to the rights of another lender in accordance with articles 1653 and 1654 of the Civil Code of Québec (Statutes of Québec, 1991, chapter 64) in respect of a loan granted under that Act is entitled to the insurance described in the first paragraph of section 4, but the powers of the Société under the third paragraph of that section, where the original lender fails to observe the provisions of the Act by virtue of which the loan was granted, or the regulations thereunder, are not hereby restricted.
The first paragraph, adapted as required, also applies in the case of a hypothec or sale referred to in section 60 of the Act respecting farm financing or section 52 of the Act to promote forest credit by private institutions (chapter C-78.1), made in accordance with such section 60 or 52, as the case may be.
Any person who is subrogated in the rights of a lender who has granted a loan under an assistance program established under the Act respecting the Société de financement agricole (chapter S-11.0101) or under the forest management funding program established under section 124.37 of the Forest Act (chapter F-4.1) or to whom the debt resulting from such a loan has been transferred, is entitled to the insurance described in the first paragraph of section 4 to the same extent as the original lender, if the person is himself a lender accredited to make loans under this program. Such subrogation or transfer does not, however, restrict the power granted to the Société by the fourth paragraph of section 4 to cancel or refuse the right to the insurance, when the original lender fails to comply with the provisions of this Act or of the program under which the loan was granted.
1988, c. 3, s. 13; 1992, c. 32, s. 38, s. 43; 1992, c. 57, s. 438; 1996, c. 14, s. 24.
25.1. Notwithstanding any legislative provision inconsistent herewith, a lender contemplated in paragraph 1 of section 5 and any other person designated by the Government under section 6 of the Act respecting farm financing (chapter F-1.2) who is subrogated to the rights of another lender in accordance with article 1155 of the Civil Code of Lower Canada in respect of a loan granted under that Act is entitled to the insurance described in the first paragraph of section 4, but the powers of the Société under the third paragraph of that section, where the original lender fails to observe the provisions of the Act by virtue of which the loan was granted, or the regulations thereunder, are not hereby restricted.
The first paragraph, adapted as required, also applies in the case of a hypothec or sale referred to in section 60 of the Act respecting farm financing or section 52 of the Act to promote forest credit by private institutions (chapter C-78.1), made in accordance with such section 60 or 52, as the case may be.
Any person who is subrogated in the rights of a lender who has granted a loan under an assistance program established under the Act respecting the Société de financement agricole (chapter S-11.0101) or to whom the debt resulting from such a loan has been transferred, is entitled to the insurance described in the first paragraph of section 4 to the same extent as the original lender, if the person is himself a lender accredited to make loans under this program. Such subrogation or transfer does not, however, restrict the power granted to the Société by the fourth paragraph of section 4 to cancel or refuse the right to the insurance, when the original lender fails to comply with the provisions of this Act or of the assistance program under which the loan was granted.
1988, c. 3, s. 13; 1992, c. 32, s. 38, s. 43; 1992, c. 57, s. 438.
25.1. Notwithstanding any legislative provision inconsistent herewith, a lender contemplated in paragraph 1 of section 5 and any other person designated by the Government under section 6 of the Act respecting farm financing (chapter F-1.2) who is subrogated to the rights of another lender in accordance with article 1155 of the Civil Code in respect of a loan granted under that Act is entitled to the insurance described in the first paragraph of section 4, but the powers of the Société under the third paragraph of that section, where the original lender fails to observe the provisions of the Act by virtue of which the loan was granted, or the regulations thereunder, are not hereby restricted.
The first paragraph, adapted as required, also applies in the case of an assignment, sale or transfer contemplated in section 60 of the Act respecting farm financing or section 52 of the Act to promote forest credit by private institutions (chapter C-78.1), made in accordance with such section 60 or 52, as the case may be.
Any person who is subrogated in the rights of a lender who has granted a loan under an assistance program established under the Act respecting the Société de financement agricole (chapter S-11.0101) or to whom the debt resulting from such a loan has been transferred, is entitled to the insurance described in the first paragraph of section 4 to the same extent as the original lender, if the person is himself a lender accredited to make loans under this program. Such subrogation or transfer does not, however, restrict the power granted to the Société by the fourth paragraph of section 4 to cancel or refuse the right to the insurance, when the original lender fails to comply with the provisions of this Act or of the assistance program under which the loan was granted.
1988, c. 3, s. 13; 1992, c. 32, s. 38, s. 43.
25.1. Notwithstanding any legislative provision inconsistent herewith, a lender contemplated in paragraph 1 of section 5 and any other person designated by the Government under section 6 of the Act respecting farm financing (chapter F-1.2) who is subrogated to the rights of another lender in accordance with article 1155 of the Civil Code in respect of a loan granted under that Act is entitled to the insurance described in the first paragraph of section 4, but the powers of the Office under the third paragraph of that section, where the original lender fails to observe the provisions of the Act by virtue of which the loan was granted, or the regulations thereunder, are not hereby restricted.
The first paragraph, adapted as required, also applies in the case of an assignment, sale or transfer contemplated in section 60 of the Act respecting farm financing or section 52 of the Act to promote forest credit by private institutions (chapter C-78.1), made in accordance with such section 60 or 52, as the case may be.
1988, c. 3, s. 13.
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