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A-32 - Act respecting insurance

Section 93.251
Disposition versions

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93.251. A guarantee fund may acquire claims secured by hypothec or grant a hypothecary loan on landed property situated in Québec
(1)  if payment of the capital and interest on the claims is guaranteed or insured by Québec or Canada;
(2)  if the hypothec is a first hypothec and if the amount of the claim does not exceed 80% of the value of the landed property which secures payment thereof; or
(3)  if the hypothec is a first hypothec and if the amount by which the value of the landed property securing the payment of the claim exceeds 80% of such value, is guaranteed or insured by Québec, Canada, the Canada Mortgage and Housing Corporation, the Société d’habitation du Québec or a hypothecary insurance policy issued by an insurance company holding a licence issued under this Act.
It may also grant a loan that causes the amount of the hypothec on an immovable referred to in subparagraph 2 of the first paragraph to exceed 80% of the value of the immovable if the corresponding hypothecary claim is endangered or if the immovable has been repossessed.
1985, c. 17, s. 6; 1996, c. 63, s. 30, s. 81; 1999, c. 40, s. 33; 2007, c. 16, s. 1.
93.251. A guarantee fund may acquire claims secured by hypothec or grant a hypothecary loan on landed property situated in Québec
(1)  if payment of the capital and interest on the claims is guaranteed or insured by Québec or Canada;
(2)  if the hypothec is a first hypothec and if the amount of the claim does not exceed 75 % of the value of the landed property which secures payment thereof; or
(3)  if the hypothec is a first hypothec and if the amount by which the value of the landed property securing the payment of the claim exceeds 75 % of such value, is guaranteed or insured by Québec, Canada, the Canada Mortgage and Housing Corporation, the Société d’habitation du Québec or a hypothecary insurance policy issued by an insurance company holding a licence issued under this Act.
It may also grant a loan that causes the amount of the hypothec on an immovable referred to in subparagraph 2 of the first paragraph to exceed 75 % of the value of the immovable if the corresponding hypothecary claim is endangered or if the immovable has been repossessed.
1985, c. 17, s. 6; 1996, c. 63, s. 30, s. 81; 1999, c. 40, s. 33.
93.251. A guarantee fund may acquire claims secured by hypothec or grant a hypothecary loan on real estate situated in Québec
(1)  if payment of the capital and interest on the claims is guaranteed or insured by Québec or Canada;
(2)  if the hypothec is a first hypothec and if the amount of the claim does not exceed 75 % of the value of the real estate which secures payment thereof; or
(3)  if the hypothec is a first hypothec and if the amount by which the value of the real estate securing the payment of the claim exceeds 75 % of such value, is guaranteed or insured by Québec, Canada, the Canada Mortgage and Housing Corporation, the Société d’habitation du Québec or a hypothecary insurance policy issued by an insurance company holding a licence issued under this Act.
It may also grant a loan that causes the amount of the hypothec on an immovable referred to in subparagraph 2 of the first paragraph to exceed 75 % of the value of the immovable if the corresponding hypothecary claim is endangered or if the immovable has been repossessed.
1985, c. 17, s. 6; 1996, c. 63, s. 30, s. 81.
93.251. A corporation may acquire and hold claims secured by hypothecs on real estate situated in Québec
(1)  if payment of the capital and interest on the claims is guaranteed or insured by Québec or Canada;
(2)  if the hypothec is a first hypothec and if the amount of the claim does not exceed 75% of the value of the real estate which secures payment thereof; or
(3)  if the hypothec is a first hypothec and if the amount by which the value of the real estate securing the payment of the claim exceeds 75% of such value, is guaranteed or insured by Québec, Canada, the Canada Mortgage and Housing Corporation, the Société d’habitation du Québec or a hypothecary insurance policy issued by an insurance company holding a licence issued under this Act.
1985, c. 17, s. 6.
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