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C-75 - Farm Credit Act

Section 32
Disposition versions

Full text
32. The authorization of the Bureau must be obtained in order to validate the voluntary transfer or the lease for more than one year of an immoveable guaranteeing a loan (prêt) and for voluntary transfer or lease of the pledged property.
No issue, allotment or transfer of shares of an agricultural operations corporation to which a loan has been granted by the Bureau shall be valid without the authorization of the Bureau.
No issue, allotment, transfer or reimbursement of ordinary shares or common shares, as the case may be, of an agricultural operations cooperative to which a loan has been granted by the Bureau shall be valid without the authorization of the Bureau.
No amendment to the contract constituting an agricultural operations partnership to which a loan has been granted shall be valid without the authorization of the Bureau.
Such authorizations may be given by any member (régisseur) generally designated for such purpose by the Bureau.
R. S. 1964, c. 108, s. 21; 1969, c. 41, s. 15; 1972, c. 32, s. 9; 1975, c. 34, s. 14, s. 19.
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