Canadian Agricultural Loans Regulations

The Canadian Agricultural Loans Regulations outline the rules and guidelines for agricultural loans made under the Canadian Agricultural Loans Act. The regulations define key terms such as "borrower" and "guaranteed farm improvement loan," and specify the purposes for which loans can be made, including farm improvements, marketing cooperatives, and other related activities. The regulations also set out the conditions under which loans can be made, including the requirement that borrowers provide security for the loan and that lenders register their loans with the Minister. In addition, the regulations establish a fee schedule for loans, with lenders required to pay 0.85% of the loan amount as a registration fee. The regulations also outline the procedures to be followed in case of default on a loan, including the requirement that lenders take certain measures to minimize losses and submit claims for loss to the Minister within specified timeframes. Overall, these regulations provide important guidance for lenders and borrowers seeking to access agricultural loans under the Canadian Agricultural Loans Act.