G-1 - Act respecting the guarantee of certain loans to publishers and booksellers

Section 14 Disposition versions

1977-12-31

14. The borrower must accompany his application with:

(a)  the financial statements of his business for the last fiscal year, audited by a public accountant;

(b)  an exhaustive list, in accordance with the form determined by regulation, of the accounts receivable of the business, indicating the names and addresses of the debtors, the amount of each debt, the date when it originated and its value;

(c)  a detailed statement, in accordance with the form determined by regulation, of the accounts payable;

(d)  a detailed statement, in accordance with the form determined by regulation, of the inventory of the includible books offered as security, accompanied with a sworn declaration certifying that such books are free of any real security;

(e)  a detailed list of the accounts receivable of the business in regard to the sale of includible books;

(f)  in the case of a publisher, a detailed list of the copyrights paid for during the last fiscal year and the amount payable to each author;

(g)  in the case of a publisher, a list of the books that he intends to publish during the three-month period following the date of the application, accompanied with his estimates of the sales prices and the number of copies printed;

(h)  in the case of an accredited bookseller, a valuation, prepared by a public accountant based on the audited statements, of the inventory of includible books;

(i)  any other information of a financial nature required by regulation.

Subsequently, the documents contemplated in subparagraph a must be submitted annually and those contemplated in subparagraphs b to i must be submitted every three months in accordance with the form determined by regulation.

1975, c. 15, s. 14.