L-0.1 - Act respecting La Financière agricole du Québec

Section 22 Disposition versions

2011-10-01

22. The agency may, in particular, exercise the following powers:

(1)  determine the assistance that may be granted to an enterprise and impose conditions for the granting of the assistance;

(2)  determine risk coverage by region, territory or zone;

(3)  authorize any person to act as a lender, on the conditions it determines;

(4)  take the measures it considers necessary, at the expense of the borrower when the borrower fails to take the measures, to ensure that property given to secure a loan is maintained in good condition or that an enterprise is maintained in operation;

(5)  act as the mandatary of a lender, as plaintiff or defendant, in any judicial proceedings relating to a loan;

(6)  act as a lender;

(7)  establish and administer trust patrimonies;

(8)  receive and administer, on behalf of a farming business, contributions paid under a farm income protection plan;

(9)  acquire, administer, sell, lease or otherwise alienate, in its name or as the mandatary of a lender, any property given to secure a loan granted under this or any other Act or connected with a program whose administration has been entrusted to the agency by the Government;

(10)  reimburse a lender for a loan granted under this Act, the Act respecting the Société de financement agricole (chapter S-11.0101), the Act respecting farm financing (chapter F-1.2) or an Act replaced by the latter Act, where the borrower is in default;

(11)  contract reinsurance, out of the funds of the patrimonies of which the agency is the trustee;

(12)  decide whether a claim presented by a lender who benefits from the financial commitment repayment guarantee is admissible and in good order, and decide on the amount of the repayment to be made under the rules of a program.

Where the agency reimburses a lender pursuant to subparagraph 10 or 12, it is subrogated to the rights of the lender.

A person who is subrogated in the rights of a lender is entitled to a financial commitment repayment guarantee if the person is a designated lender designated under subparagraph 5 of the first paragraph of section 19 or a person authorized to act as a lender under subparagraph 3 of the first paragraph of this section.

2000, c. 53, s. 22; 2011, c. 16, s. 14.

2001-04-17

22. The agency may, in particular, exercise the following powers:

(1)  determine the assistance that may be granted to an enterprise and impose conditions for the granting of the assistance;

(2)  determine risk coverage by region, territory or zone;

(3)  authorize any person to act as a lender, on the conditions it determines;

(4)  take the measures it considers necessary, at the expense of the borrower when the borrower fails to take the measures, to ensure that property given to secure a loan is maintained in good condition or that an enterprise is maintained in operation;

(5)  act as the mandatary of a lender, as plaintiff or defendant, in any judicial proceedings relating to a loan;

(6)  act as a lender;

(7)  establish and administer trust patrimonies;

(8)  receive and administer, on behalf of a farming business, contributions paid under a farm income protection plan;

(9)  acquire, administer, sell, lease or otherwise alienate, in its name or as the mandatary of a lender, any property given to secure a loan granted under this or any other Act or connected with a program whose administration has been entrusted to the agency by the Government;

(10)  reimburse a lender for a loan granted under this Act, the Act respecting the Société de financement agricole (chapter S‐11.0101), the Act respecting farm financing (chapter F‐1.2) or an Act replaced by the latter Act, where the borrower is in default;

(11)  contract reinsurance, out of the funds of the patrimonies of which the agency is the trustee.

Where the agency reimburses a lender pursuant to subparagraph 10, it is subrogated to the rights of the lender.

2000, c. 53, s. 22.