C-4.1 - Savings and Credit Unions Act

Section 248 Disposition versions

1997-02-15

248. Every credit union may, in accordance with this Act and, where applicable, the regulations of the Government or the standards of the federation with which it is affiliated, extend credit, particularly by way of

(1)  loans, lines of credit or advances, with or without security, leasing, loans granted or acquired by the credit union on the security of conditional sales agreements and the acquisition by the credit union of property related to such agreements, including the acquisition by the credit union of conditional sales agreements;

(2)  the discount of a negotiable instrument;

(3)  guarantees of payment or repayment of fixed sums of money.

1988, c. 64, s. 248; 1996, c. 69, s. 75.

1989-03-15

248. Every credit union may, in accordance with this Act and, where applicable, the regulations of the Government or the by-laws of the federation with which it is affiliated, extend credit, particularly by way of

(1)  loans, lines of credit or advances, with or without security, leasing, loans granted or acquired by the credit union on the security of conditional sales agreements and the acquisition by the credit union of property related to such agreements, including the acquisition by the credit union of conditional sales agreements;

(2)  the discount of a negotiable instrument;

(3)  guarantees of payment or repayment of fixed sums of money.

1988, c. 64, s. 248.