Ministère de l'Emploi et de la Solidarité sociale
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A-18 - Act to promote farm improvement

Section 3
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3. Any bank or credit union may grant to any borrower, for one or more of the purposes mentioned in section 7, a loan which must in no case exceed $200 000.
The same borrower may obtain more than one loan provided that the amount of the last loan he obtains, added to the balance owing by him in principal, by succession or otherwise and determined in the manner provided in section 5, on any other loan, does not exceed $200 000.
Where farmers actually jointly operate an economic farm formed by the aggregate of their farms, they cannot obtain a loan except as joint borrowers.
R. S. 1964, c. 109, s. 3; 1965 (1st sess.), c. 40, s. 3; 1969, c. 43, s. 2; 1972, c. 33, s. 2; 1975, c. 35, s. 2; 1978, c. 45, s. 1; 1983, c. 7, s. 1.
3. A bank or a credit union may grant to any borrower, for one or more of the purposes mentioned in section 7, a loan which must in no case exceed $100,000.
The same borrower may obtain more than one loan provided that the amount of the last loan he obtains added to the balance owing in principal, by succession or otherwise, on any loan previously obtained and determined in the manner provided in section 5, never exceeds the maximum of $100,000.
Where farmers actually jointly operate an economic farm formed by the aggregate of their farms, they cannot obtain a loan except as joint borrowers.
R. S. 1964, c. 109, s. 3; 1965 (1st sess.), c. 40, s. 3; 1969, c. 43, s. 2; 1972, c. 33, s. 2; 1975, c. 35, s. 2; 1978, c. 45, s. 1.
3. A bank or credit union may grant to any borrower who meets the criteria of need established by regulation, for one or more of the purposes mentioned in section 7, a loan which must in no case exceed $50,000. The same borrower may obtain more than one loan provided that the total outstanding principal never exceeds the maximum of $50,000.
Where farmers actually jointly operate an economic farm formed by the aggregate of their farms, they cannot obtain a loan except as joint borrowers.
R. S. 1964, c. 109, s. 3; 1965 (1st sess.), c. 40, s. 3; 1969, c. 43, s. 2; 1972, c. 33, s. 2; 1975, c. 35, s. 2.
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