Ministère de l'Emploi et de la Solidarité sociale
Consolidated Statutes and Regulations Consolidated Statutes Consolidated Regulations Annual Statutes and Regulations Annual Statutes Annual Regulations Additional information Québec Official Publisher What’s new? Information note Policy of the Minister of Justice Laws: Amendments Laws: Provisions not in force Laws: Provisions brought into force Annual Statutes: PDF versions since 1996 Regulations: Amendments Annual Regulations: PDF versions since 1996 Court Decisions

S-29.01 - Act respecting trust companies and savings companies

Section 205
Disposition versions

Full text
205. No loan secured on immovable property may be granted in an amount which, together with any other claim of the same rank or prior rank against such property, is greater than 80% of the market value of the charged property at the time the loan is granted, except in the case of a loan approved or insured within the meaning of the National Housing Act (R.S.C. 1985, c. N-11) or unless the excess amount is guaranteed or insured by the government of Québec, of another Canadian province, of Canada or of a territory of Canada, or by any agency thereof, or under a hypothec insurance policy issued by an insurance company authorized to carry on business in Canada.
1987, c. 95, s. 205; 2007, c. 16, s. 3; 2008, c. 7, s. 114.
205. For the purposes of section 203, no loan secured on immovable property may be granted in an amount which, together with any other claim of the same rank or prior rank against such property, is greater than 80% of the market value of the charged property at the time the loan is granted, except in the case of a loan approved or insured within the meaning of the National Housing Act (Revised Statutes of Canada, 1985, chapter N-11) or unless the excess amount is guaranteed or insured by the government of Québec, of another Canadian province, of Canada or of a territory of Canada, or by any agency thereof, or under a hypothec insurance policy issued by an insurance company authorized to carry on business in Canada.
1987, c. 95, s. 205; 2007, c. 16, s. 3.
205. For the purposes of section 203, no loan secured on immovable property may be granted in an amount which, together with any other claim of the same rank or prior rank against such property, is greater than 75 % of the market value of the charged property at the time the loan is granted, except in the case of a loan approved or insured within the meaning of the National Housing Act (Revised Statutes of Canada, 1985, chapter N-11) or unless the excess amount is guaranteed or insured by the government of Québec, of another Canadian province, of Canada or of a territory of Canada, or by any agency thereof, or under a hypothec insurance policy issued by an insurance company authorized to carry on business in Canada.
1987, c. 95, s. 205.
205. For the purposes of section 203, no loan secured on immovable property may be granted in an amount which, together with any other claim of the same rank or prior rank against such property, is greater than 75 % of the market value of the charged property at the time the loan is granted, except in the case of a loan approved or insured within the meaning of the National Housing Act (Revised Statutes of Canada, 1970, chapter N-10) or unless the excess amount is guaranteed or insured by the government of Québec, of another Canadian province, of Canada or of a territory of Canada, or by any agency thereof, or under a hypothec insurance policy issued by an insurance company authorized to carry on business in Canada.
1987, c. 95, s. 205.
© Gouvernement du Québec