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The Agricultural Credit Corporation Act

R.S.M. 1987, c. A10

The Agricultural Credit Corporation Act

Table of Contents

1 Definitions.
(2) Determination of farmer.
PART I
ORGANIZATION OF CORPORATION
2 Corporation continued.
3 Members of corporation.
4 Alternate name.
5 Objects.
6 Board of directors.
7 Chairman and vice-chairman.
(2) Duties of vice-chairman.
8 Term of office of director.
(2) Filling of vacancies.
(3) Re-appointment
9 Remuneration of directors.
10 Quorum.
11 Rules of procedure.
12 Appointment of manager.
PART II
FINANCES OF CORPORATION
13 Payment of administration costs.
(2) Payment of interest to government.
14 Reserve fund.
(2) Payment of excess reserve to government.
15 Investment of surplus moneys.
(2) Disposal of invested moneys.
(3) Repayment to corporation.
16 Deficiency in revenues.
17 Advances to corporation.
18 Loans by government.
(2) Fixing of rate of interest.
19 Power of corporation to borrow and issue securities.
(2) Limitation on borrowing powers.
(3) Reissue of pledged securities.
(4) Form of securities.
(5) Execution of securities.
(6) Proof that issue of securities is necessary.
20 Power of government to guarantee.
(2) Signing of guarantees.
(3) Discharge of liability under guarantee.
(4) Signature of member of Executive Council.
21 Authority to raise loans in other currencies.
22 Administration of funds.
(2) Audit of accounts.
(3) Fiscal year.
PART III
DIRECT LOANS
23 Authority for loans and lines of credit.
24 Security.
25 Floating charges.
PART IV
GUARANTEED LOANS
26 Payment of guarantees.
(2) Guarantees of individual lender loans.
(3) Cl. 28(b) and secs. 29 & 30 apply.
27 Limitation on guarantees.
28 Guarantee unenforceable under certain conditions.
29 Effect of change of terms.
30 Subrogation.
(2) Form of receipt.
PART V
GENERAL
31 Regulations.
32 Acquiring real property.
33 Agreements with Canada.
34 Annual report.
35 Part XXIV of Corporations Act not to apply.