S-25.1 - Act respecting the sociétés d’entraide économique

Section 104 Disposition versions

2004-12-17

104. Except with the authorization of the Autorité des marchés financiers and on such conditions as it may determine, no company may grant a loan if the total of its borrowings exceeds 1% of its deposit liabilities, or any higher percentage fixed by regulation, but not over 5%.

Any borrowing determined by regulation is deducted from the total of the company’s borrowings.

1981, c. 31, s. 104; 1982, c. 52, s. 246; 2002, c. 45, s. 564; 2004, c. 37, s. 90.

2004-02-01

104. Except with the authorization of the Agence nationale d’encadrement du secteur financier and on such conditions as it may determine, no company may grant a loan if the total of its borrowings exceeds 1% of its deposit liabilities, or any higher percentage fixed by regulation, but not over 5%.

Any borrowing determined by regulation is deducted from the total of the company’s borrowings.

1981, c. 31, s. 104; 1982, c. 52, s. 246; 2002, c. 45, s. 564.

1983-04-01

104. Except with the authorization of the Inspector General and on such conditions as he may determine, no company may grant a loan if the total of its borrowings exceeds 1% of its deposit liabilities, or any higher percentage fixed by regulation, but not over 5%.

Any borrowing determined by regulation is deducted from the total of the company’s borrowings.

1981, c. 31, s. 104; 1982, c. 52, s. 246.

1982-03-01

104. Except with the authorization of the superintendent and on such conditions as he may determine, no company may grant a loan if the total of its borrowings exceeds 1% of its deposit liabilities, or any higher percentage fixed by regulation, but not over 5%.

Any borrowing determined by regulation is deducted from the total of the company’s borrowings.

1981, c. 31, s. 104.