F-1.2 - Act respecting farm financing

Section 110 Disposition versions

1988-08-11

110. For the carrying out of this Act the Office has, among others, the following functions:

(1)  to receive and examine applications for certificates with a view to obtaining a loan, line of credit or special loan and applications for subsidies;

(2)  to appraise, in accordance with the general bases fixed by regulation, the property offered as security for any loan, line of credit or special loan;

(3)  to indicate, in each case, the conditions and purposes of the loan, line of credit or special loan and to fix or extend, in each case, the time within which a loan may be contracted after the date of issue of the certificate;

(4)  to examine the titles of ownership in the property serving as security for a loan, line of credit or special loan, to revise any report of the examination of the titles respecting the immovable security and to verify the charges against the movable security;

(5)  to issue certificates authorizing loans, lines of credit and special loans, taking into account the performance of the market, having regard to the economic climate or the nature of the farm production the applicants are engaged in or intend to engage in, and to change or cancel such certificates;

(6)  to determine, in cases where a person has several important occupations or activities, including farming, which occupation or activity constitutes his principal occupation or his principal activity for the purposes of this Act.

1987, c. 86, s. 110.