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L-0.1 - Act respecting La Financière agricole du Québec
Section 38
Disposition versions
38. The agency may, with the authorization of the Government and the approval of two-thirds of the members of the board of directors, contract a loan in order to carry out a transaction to which Chapter VIII of the Financial Administration Act (chapter A‐6.001) applies in respect of instruments and contracts of a financial nature. The Government shall determine the amount, the rate of interest, the conditions and the terms of the loan.
The amount of a loan may be applied, among other things, to the repayment of brokerage fees relating to instruments and contracts of a financial nature, and to the repayment of any interest and costs relating to the loan.
The moneys required to repay the loan are chargeable to the trust patrimony in respect of which the loan was contracted in proportion to the financial interest of the enterprises and the agency.
