C-67.3 - Act respecting financial services cooperatives

Section 549 Disposition versions

2004-12-17

549. Where the Authority is of the opinion that the market value of the assets of a financial services cooperative is less than the recorded book value, it may require that such cooperative cause an appraisal of the immovable to be made by an appraiser who must receive the approval of the Authority, or the Authority may itself cause the appraisal to be made.

The Authority may, following such appraisal, reduce the value of the loan entered in the books of the cooperative.

2000, c. 29, s. 549; 2002, c. 45, s. 327; 2004, c. 37, s. 90.

2004-02-01

549. Where the Agency is of the opinion that the market value of the assets of a financial services cooperative is less than the recorded book value, it may require that such cooperative cause an appraisal of the immovable to be made by an appraiser who must receive the approval of the Agency, or the Agency may itself cause the appraisal to be made.

The Agency may, following such appraisal, reduce the value of the loan entered in the books of the cooperative.

2000, c. 29, s. 549; 2002, c. 45, s. 327.

2001-07-01

549. Where the Inspector General is of the opinion that the market value of any of the assets of a financial services cooperative is less than the book value, the Inspector General may require the cooperative to cause an appraisal of the asset to be made by an appraiser, who must receive the approval of the Inspector General, or the Inspector General may cause the appraisal to be made.

Following the appraisal, the Inspector General may reduce the book value of the asset of the cooperative.

2000, c. 29, s. 549.