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C-78 - Forestry Credit Act

Section 3
Disposition versions

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3. The agency may also grant to any borrower, for the purposes contemplated in sections 2 and 14, a loan secured by movable hypothec on up to 70% of the value of the hypothecated property.
Subject to section 4, the amount of such a loan must never exceed $25,000 in the case of a natural person, or $100,000 in the case of a legal person.
Such a loan may entail, in addition to the security of the hypothecated property, a hypothec in favour of the agency on the private forest and on any other immovable of the borrower.
1975, c. 33, s. 3; 1992, c. 57, s. 534; 1999, c. 40, s. 97; 2000, c. 53, s. 66.
3. The Bureau may also grant to any borrower, for the purposes contemplated in sections 2 and 14, a loan secured by movable hypothec on up to 70 % of the value of the hypothecated property.
Subject to section 4, the amount of such a loan must never exceed $25 000 in the case of a natural person, or $100 000 in the case of a legal person.
Such a loan may entail, in addition to the security of the hypothecated property, a hypothec in favour of the Bureau on the private forest and on any other immovable of the borrower.
1975, c. 33, s. 3; 1992, c. 57, s. 534; 1999, c. 40, s. 97.
3. The Bureau may also grant to any borrower, for the purposes contemplated in sections 2 and 14, a loan secured by movable hypothec on up to 70 % of the value of the hypothecated property.
Subject to section 4, the amount of such a loan must never exceed $25 000 in the case of a physical person, or $100 000 in the case of a moral person.
Such a loan may entail, in addition to the security of the hypothecated property, a hypothec in favour of the Bureau on the private forest and on any other immovable of the borrower.
1975, c. 33, s. 3; 1992, c. 57, s. 534.
3. The Bureau may also grant to any borrower, for the purposes contemplated in sections 2 and 14, a loan secured by pledge of forest property of up to 70 % of the value of the pledged property.
Subject to section 4, the amount of such a loan must never exceed $25 000 in the case of a physical person, or $100 000 in the case of a moral person.
Such a loan may entail, in addition to the security of the pledged property, a hypothec in favour of the Bureau on the private forest and on any other immovable of the borrower.
1975, c. 33, s. 3.
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