C-75.1 - Act to promote long term farm credit by private institutions

Section 33 Disposition versions

1978-08-01

33. Where a borrower or a person who has assumed payment of the balance of a loan collects a sum of money on or pursuant to the transfer, expropriation or lease for more than one year of an immoveable securing a loan owing from such borrower or such person, the said sum, subject to the second paragraph of section 17, must be applied to the repayment in full or in part of the loan, unless otherwise decided by the Office.

1978, c. 50, s. 33.