548. Where the Authority is of the opinion that the value of an immovable securing a claim of a financial services cooperative is less than the amount of the loan granted, including accrued interest, or where the Authority considers the immovable to be insufficient security, the Authority may require the cooperative to 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. 548; 2002, c. 45, s. 326; 2004, c. 37, s. 90.