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C-78 - Forestry Credit Act
Section 2
Disposition versions
2. The agency may grant to a forest owner or a forest-owning association, for the management or the purchase of a private forest or to consolidate debts already incurred for such purposes, a loan secured by first hypothec on the forest of the owner or association, and on other immovables owned by them if the agency deems it advisable, of up to 90% of the value of the forest as established by the agency.
The amount of such a loan must never exceed $40,000 in the case of a forest owner, or $500,000 in the case of an association.
2. The Bureau may grant to a forest owner or a forest-owning association, for the management or the purchase of a private forest or to consolidate debts already incurred for such purposes, a loan secured by first hypothec on the forest of the owner or association, and on other immovables owned by them if the Bureau deems it advisable, of up to 90 % of the value of the forest as established by the Bureau.
The amount of such a loan must never exceed $40 000 in the case of a forest owner, or $500 000 in the case of an association.
