L-0.1 - Act respecting La Financière agricole du Québec

Section 33 Disposition versions

2001-04-17

33. The agency or a subsidiary of the agency may not, except with the authorization of the Government,

(1)  contract a loan that causes the total of its current outstanding loans to exceed the amount determined by the Government;

(2)  make a financial commitment in excess of the limits or in contravention of the terms and conditions determined by the Government;

(3)  acquire, hold or transfer shares of a legal person, an interest in a partnership or other assets in excess of the limits or in contravention of the terms and conditions determined by the Government, except in connection with the implementation of a program;

(4)  encumber, to guarantee a loan contracted for the benefit of a trust patrimony, all or part of the trust patrimony;

(5)  accept a gift or legacy to which a charge or condition is attached.

The amounts, limits and terms and conditions fixed under this section may apply to the group consisting of the agency and its subsidiaries or to one or several members of that group.

2000, c. 53, s. 33.