Bill 39 (Legislature 17, Session 3)

L17 S3 5305

Alberta — Bills

1974 Bill 39 Third Session, 17th Legislature, 23 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL 39 The Agriculture Statutes Amendment Act, 1974 (No.2) MR. FLUKER {i'irst Reading Second Reading Third Reading ............................. . Printed by L. S. WALL, Queen's Printer for the Province of Alberta, EDMONTON

Bill 39 Mr. Fluker BILL 39 1974 THE AGRICULTURE STATUTES AMENDMENT ACT, 1974 (NO.2) (Assented to , 1974) HER MAJESTY, by and with the advice and consent 'Of the Legislative Assembly of Alberta, enacts as foHows: The Co-operative Associations Act 1.

(1) The Co-operative Associations Act is amended by this section.

(2) Section 2, clause (

b) is amended by striking out the words "incorporated under this Act" and by sUbstituting therefor the words "incorporated or registered under this Act".

(3) Section 11 is amended (

a) by striking out cla~lse (

d) and by substituting there for the following: (

d) supplying 'Of natural gas, liquefied petroleum gas, water 'Or electrical energy or power; (

b) by adding after clause (f), the following: (

g) purchasing farm machinery.

(4) Section 19, subsection (8) is amended by striking out the words "ten per cent" and by substituting therefor the words "one-sixth".

(5) Section 25 is amended by striking out subsection (7) and by substituting therefor the following:

(7) Where (

a) not less than 10 per cent of the members 'Of an association notify the association in writing at least seven days before a meeting of its members that they wish the auditor of the association to attend the meeting, 'or

Explanatory Notes I.

(1) This

section will amend

chapter 67 of the Revised Statutes of Alberta 1970.

(2) Section 2, clause (

b) presently reads: (b) "association" means an associa;tion incorpora.ted under this Act or heretof.ore incorporated under any of the following Acts: The Co-operative Associations Act,

chapter 12, Statutes of Alberta, 1913; The Co-operative Associations Aot,

chapter 160, Revised Statutes' of Alberta, 1922; The Co-operative Associations Act, cha.pter 66, St8!tutes .of Alberta, 1937; The Co-.operative ASSiocia Hons Act,

chapter 250, Revised Statutes of Alberta, 1942; The Co-operative Marketing Associa;tions Act,

chapter 5, Statu.tes of Alberta, 1924; The Go-operative Marketing Associations Act, chap.ter 251, Revised Statutes .of Alberta, 1942; and The Co operative Associations Act,

chapter 6, Statutes .of Albe'rta, 1946; and includes The Viking Co-operative Creamery Association; This provision will include in the definition of "association" extra-provincial co-operatives which are registered in Alberta. With this alteration in the definition it will allow extra-provincial co-operatives to come within the provisions of

section 13 and also to come within the exemption provided for in

section 19, subsection (2), clause 7 of The Securities Act. (3) (

a) Section 11, clause (

d) presently reads: 11. An associati.on maybe incorporated for the purpose .of con duoting and carrying on a co-operative undertaking, business or indus try, and, without limiting the generality of the foregoing, for one or more of the following purp.ose·s: (

d) prov,iding electric power; (

b) Provides that one of the purposes that a co-operative as sociation may be incorporated for is to purchase farm machinery.

(4) Section 19 (8) presently reads:

(8) No member is entitled to hold, directly or indirectly, more than ten per cent of the total issued share capital of the associa.tion.

(5) Section 25 (7) presently reads:

(7) An association, upon receipt, not less than seven days before a meeting of members, of a written application of not less than ten per cent of the members .of the association th8!t the auditor of the associa tion be requested to attend the mee,ting, shall forthwith in writing re quest the auditor to attend that meeting, and the auditor shall so attend,

(

b) the Director advises the association that he wishes the auditor of the association to attend the next meeting of its members, the association shall forthwith request the auditor to attend the meeting and the auditor shall so attend.

(6) Section 28, subsection (4), clause (

a) is amended by striking out the word "only".

(7) Sections 34, 35 and 36 are struck out.

(8) Section 37 is struck out and the following is substi tuted therefor: 37. Where an association pledges ,the credit of the associ ation in a manner not permitted by this Act, (

a) that association, and (

b) every director and officer of that association who had knowledge of the pledging of credit and ac quiesced in or authorized the pledging of credit, is gui1ty of an offence.

(9) Section 39, subsection (1), clause (

b) is amended by striking out the word "ten" and by substituting therefor the word "five".

(10) Section 40 is struck out and the following is substi tuted therefor: 40. Unless the by-laws of an association otherwise pro vide, the directors of an associati'on may, by a resolution passed by a majority of not less than three-fourths of those present at a duly called board meeting, order the expulsion of a member from the association. 2

(6) Section 28, subsection (4), clause (

a) presently reads:

(4) At meetings of the association (

a) a member shall have one vote only ,regardless of the number of shares held by him, and

(7) Sections 34, 3'5 and 3'6 presently read: 34. Except as otherwise provided in this Act no association shall sell goods, wares or merchandise to its patrons or customers on credJ,t or in any other manner than for cash. 35. An association may sell goods, wares or mer,chandise on credit, (

a) if pursuant to a written agreement the property in the goods, wares or merchandise remains in the associa,tion until the pur chase price is paid and if such agreement is taken and registered in ,conformity with The Conditional Sale!s Act, or (

b) if ,the delivery of the goods, wares or merchandise is upon the order of a duly authorized represe,ntative of the Government of Canada, a Province of Canada or a municipality or an instLtution operated by a municipality. 36.

(1) An as'sociation that has working capRal in excess of five thousand dollars may by supplemental by-law authorize the selling of goods on credit.

(2) No association shall exercise the power conferred by a by-law referred to in subsection (1) until permission to do so has' been given by the Director in writing.

(3) No association shall exercise the power conferred by a by-law referred to in subsection (1) so as to have owing to the association at any time with respect to credit sales an amount in excess of two-thirds of the amount of the working capttal as sho,wn by the previous year's audited annual report.

(4) The annual audited return made by an association to the Director is prima facie proof of the amount of :the ,then working capital of the association.

(5) For the purposes of this

section and of seotion 39 "working' capital" shall be construed to include share capital, debenture or bond -indebtedness, general reserve fund, deferred dividend or participation reserves, and undistributed surplus or deficit accounts.

(8) Section 37 presently reads: 37. An association that sells goods', wares or merchandise on credit in a manner not authorized by sections 35 and 36, or that pledges the credit of the association in a way prohibited by this Act, and every director and officer of the association, is guilty of an offence.

(9) Section 39 (1) presently reads: 39.

(1) Members' may withdraw from membership in an association as prescribed by by-law and subject to the fonowing conditions: (

a) the directors may require notice not exceeding six months of a proposed withdrawal of a member's equity; (

b) the association is not required to permit the withdrawal in a fiscal year of more than an amount equal ,to ten per cent of the work,ing capital of the as'sociation at the beginning of that fiscal year; (

c) the association is not required to permit the withdrawal of a member's equity at a time when in the opinion of the board of direotors such withdrawal would impair the financial stability of the association.

(10) Section 40 presently reads: 40.

(1) The dire,cto'r,s of an association may, by a resolu.tion passed by a majority of not ,less than three-fourths of those present at a duly called board meeting, order the expulsion of a member from the association in the manner provJded in the standard by-laws . .

(2) Upon the expulsion o.f a member from membership in the associa tIon,

section 39, subsections (2) and (3) shall apply mutatis mutandis to the expulsion as if the member had withdrawn from the a;ssooiatiQn. 2

The Co-operative Marl(eting Associations Guarantee Act 2.

(1) The Co-operative Marketing Associations Guar antee Act is amended by this section.

(2) Section 3, subsection (1), clause (

d) is amended by striking out the figure "$10,000,000" and by substituting therefor the figure "$50,000,000". ( 3 )

Section 12 is arnended (

a) by strriking out subsection (1) and by substituing therefor the following subsections: 12.

(1) Where an association applies to have a loan guaranteed pursuant to secUon 3, the Provincial Treasurer may require that the association obtain lien notes from those members who have not fully paid up their share of the cost of constructing the pipelinesbr:works required by the association.

(1.1) Where land against which the association has a lien pursuant to

section 14 is sold, the associa tion may refuse to supply natural gas, liquefied petroleum gas, water or electrical energy or power to the purchaser of the land until the purchaser becomes a member of the association and executes a lien note.

(1.2) The lien note shall be in Form 1 in the

Schedule and shall (

a) be payable to the order of the association, (

b) be in the amount that remains unpaid by the member to the association, (

c) bear interest at the same rate as that pay able by the association to the lender, and (

d) set out (

i) the date from which interest is to be computed, (ii) the number and amount of the equal annual ins1talments of principal by which payment of the note is to be made, and (iii) the date when each instalment of prin eipal, and the accrued interest on the unpaid principal, is to be paid, and (

e) describe either (

i) the land to which natural gas, liquefied petroleum gas, water or electrical en ergy or power is to be conveyed through or by the pipe lines or works of the association, or (ii) any land in which the maker of the lien note has an interest whether or not natural gas, liquefied petroleum 3

(1) This

section wili amend

chapter 68 of the Revised Statutes of Alberta 1970.

(2) Increases the total amount of borrowings by co-operative associations that the Province may guarantee.

(3) Section 12 presently reads: 12.

(1) Where an association applies to have a loan guaranteed pur suant to

section 3, the Provincial Treasurer may require that the association obtain from those members who have not fully paid up their share of the ,cost of constructing the pipe lines or works required by the as'sodation a lien note in triplicate in Form 1 in the

Schedule (

a) payable to the order of the association, (b) ~n the amount that remains unpaid by the member to the association, (

c) bearing interest at the same rate as ,that payable by the associa tion to the lender, (

d) setting out (

i) the date from which intere,st is to be computed, (ii) the number and amount of the equal annual instalments of prinoipal by which payment of the note is to be made, and :

W) the date when each instalment of principal, and the accrued interest on ,the unpaid principal, is to be paid, and (

e) against the land of the member or the interest of the member in the land to which natural gas, liquefied petroleum gas, or electr,ical energy is to be conveyed. .

(2) The note shall be made and signed in the presence of an officer of the association obtaining it, and shall be certified by the officer.

(3) The lien note shall affect only the interest of the member in the surface rights of the land. A~ti~i~~:. notes shall be delivered to the Director of. Co-operative 3

(b) (

c) gas, water or eleC'trical energy or power is conveyed to that land, whichever the Director of Co-operative Activities prescribes.

(1.3) Upon a lien note being made by the pur chaser under subsection (1.1), the Director of Co operative Activities may cancel the lien note made by the vendor 'Or made by any former owner of the land.

(1.4) Where the person to whom ,the natural gas, liquefied petroleum gas, water or electrical energy or power is to be supplied is not the registered owner of the land upon which the pipe lines or works are to be constructed, the association may take a lien note made or co-signed by the registered owner of the land. as to subsection (2) , by striking out the word "note" and by substituting therefor the word.~ )"lien notes", and as to subsection (4) , by striking out the word "note" and by substituting therefor the words "lien notes".

(4) Section 14 is amended (

a) by striking out subsection (1) and by substituting therefor the following subsection: 14.

(1) Where a lien note is made pursuant to ,section 12, subsection (1), the Director of Co-opera tive Activities shall, within 30 days of the execu tion of the guarantee by the Provincial Treasurer, cause a N oUce of Lien in F'Orm 2 in the

Schedule to be filed against the land described in the lien note in the appropriate land titles office. (

b) by striking out subsect'ion (5) and by SUbstituting therefor the following subsections:

(5) Notwithstanding that a lien note has been cancelled and replaced by a new lien note under

section 12 and notwithsltanding any other Act, a lien created pursuant to this Act in respect of land or an interest in land continues to be a lien against that land or interest until the total indebtedness, including interest, owing in respect 'of which the lien was registered has been repaid in full.

(6) Notwithstanding The Limitation of Actions Act, a lien created pursuant to this Act remains enforceable until (

a) the total.indebtedness, including interest, owing on the current lien note has been repaid in full, or (

b) a settlement is concluded between the debtor and the lien holder. 4

(,4)

Section 14, subsections (1) and (5) presently read: 14.

(1) Within 30 days after the execution of the guarantee by the Provincial Treasurer, the Director of Co-operative Activities shall cause a notice of ·the lien note in Form 2 in the

Schedule to be filed in the appropriate land titles office.

(5) NotwJ.thstanding anything in any other Aot, a lien filed pursuant to this Act in respec,t of land or an interest in land continues ,to be an encumbrance against that land registered in the name of a subsequent owner until the total indebtedness, including interest, in respect of which the lien was registered has been repaid in full. Subsection (6) provides that as long as the lien remains against the land it shall be enforceable. 4

(5) Section 15 is amended (

a) by striking out subsection (1) and by substituting therefor the following: 15.

(1) Upon a Notke of Lien being filed under

section 14 .in the appropriate land titles office, (

a) the association has a lien upon the land de scribed in the Notice of Lien or upon the in terest of the n1aker .of the lien note in the land described in the Notice of Lien for ,the total indebtedness, including interest, owing in re spectof which the Notice .of Lien is registered, and (

b) the lien has the same priority as if it were a mortgage under The Land Titles Act to secure the total amount of the lien note of the member and registered in the proper land titles office at the time at which the Notice of Lien was filed in the land titles office. (

b) as to subsect.ion (2) , by striking out the words "notice of a lien note" and b1J substituting therefor the words "Notice of Lien".

(6) The following

section is added after

section 17: 18. Where the maker of a lien note does not pay an in stalment together with accrued interest on the unpaid balance when it falls due as set forth in the lien note, the whole of the principal and acerued interest owing at the time of default shall become due and payable at the option of the holder of the lien note. The Rural Electrification Long Term Financing Act 3.

(1) The Rural Electrification Long Term Financing Act is amended by this section.

(2) Section 7 is amended (

a) as to subsection (1), by striking out clause (

e) and by substituting therefor the following: (

e) describing either (

i) the land to which the electricity is to be conveyed, or (ii) any land in which the maker of the lien note has an interest, whether or not electri city is to be conveyed to that land, whichever the Director prescribes. 5

('5)

Section 15 presently reads: 15.

(1) When a notice in Form 2 in the 8chedule is' filed, the associa tion has a lien (

a) upon the land of the member to which natural gas, liquefied petroleum gas, or electrical energy is to be conveyed, and (

b) upon the interest of the member in the land to which natural gas, liquefied petroleum gas or electrical energy is to be conveyed, as the case may be, to the amount of the lien note of the member held by the association and ,the lien has the s'ame priority as if it were a mortgage under The Land Titles Act, to secure the total amount 01' the note of the member and registered in the proper land titles office at the time at which the notice referred to in

section 14 was filed in such land titles office.

(2) Land in respect of which notice of a lien note has been filed shall, for the purposes of thi.s Act, be deemed not to be a homestead within the meaning of The Do,wer Act.

(6) Self explanatory. 3.

(1) This

section will amend

chapter 32'4 of the Revised Statutes of Alberta 1970.

(2) Section 7 presently reads: 7.

(1) Before applying to the Director for a loan, an association shall obtain from those of its members who have not fully paid their share of the cost of constructing the works of the association a lien note, in duplicate and in Form A in the Schedule, (

a) payable to the order of the association, (

b) in the amount remaining unpai'd by the member to the association, (

c) bearing interest 3.Jt the rate of 31;2 per cent per annum, (

d) setting out, as directed by the Director, the date from which interest is to be computed, the number and amount o'f the equal monthly instalments, which shall not be less than $5 a month, by which payment of the lien note is to be made, and the date in ,the month when the monthly instalments are to be paid. and (

e) subject to subsection (3), expressed to be a lien and charge upon the land of the member or upon his interest in the land to which the electricity is to be conveyed, or upon both.

(2) The lien nOote shall be made and signed in the presence of an offIcer of the association obtaining it, and shall be certified by such officer.

(3) Where the Director considers it expedient to do so, he may approve a lien note expressed to be a charge or lien upon land to which electricity is not to be conveyed by the assoc.iation Oor upon any interest of a member in land whether or ,not electricity is to be conveyed ,to that land by the associrution.

(4) A lien note affects only the interest of the member in the surface rights of land. 5

(

b) by adding the following subsections after subsection (1) :

(1.1) Where land against which the association has a lien pursuant to

section 17 is sold, the associ ation may refuse to supply electrkity to the pur 'Chaser of the land until the purchaser becomes a member of the association and executes a lien note.

(1.2) Upon a lien note being made by the pur chaser under subsection (1.1), the Director may cancel the lien note made by the vendor or made by a former owner of the land.

(1.3) Where the' person to whom the electricity is to be conveyed is not the registered owner of the land to which the electricity is to be conveyed, the association may take a lien note made or co-signed by the registered owner of the land. (

c) by striking out subsection (3).

(3) Section 16 is amended (

a) by striking out subsection (1) and by substituting therefor the following subsection: :10.

(1) Wi,thin 30 days after a loan is approved by the Director, he shall cause a Notice of Lien in Form B in the

Schedule to be filed against the land described in the lien note in the appropriate land titles office. (

b) by striking out subsection (5) and by substituting therefor the following subsections:

(5) Notwithstanding that a lien note has been cancelled under seetion 7, subsection (1.2) and not withstanding any other Act, a lien created pursuant to this Act in respect of land or an interest in land continues to be a lien against that land or interest until the total indebtedness, ,including interest, in respect of which the lien was registered has been repaid in full.

(6) Notwithstanding The Limitation of Actions Act, a lien created pursuant to this Act remains enforceable until (

a) the total indebtedness, including interest, owing on the current lien note has been repaid in full, or (

b) a settlement is concluded between the debtor and the lien holder. 6

(3) Section 16, subsections (1) and (5) presently read: 16.

(1) W&thin 30 days after a loan is' approved by the Director, he shall cause a notice of the lien note, in Form B in the Schedule, to be filed in the land title,s office in the distri,ct in which is situated the land for which the association holds the lien nates.

(5) Notwithstanding anything in any other Act, a lien filed pursuant to this' Act in respect of land or an interest in land continues to be an encumbrance against that land registered in .the name of a subsequent owner until the total ,indebtedness, including interest, in respect of which the lien was registered, has been repaid in full. Subsection (6) provides that as long as the lien remains against the land it shall be enforceable. 6

(4) Section 17 is atmended (

a) by striking out subsection (1) and by substituting therefor the following: 17.

(1) Upon a Not.ice of Lien being filed under

section 16 in the appropriate land titles office (

a) the association has a lien upon the land de scribed in the Notice of Lien or upon the in tereslt of the maker of the lien note in the land described in the Notice of Lien for the total indebtedness, including interest, owing in re spect of which the Notice of Lien is registered, and (

b) the lien has the same priority as if it were a mortgage under The Land Titles Act to secure the total amount of the Hen note 'Of the member and registered in the proper land titles 'Office at the time at which the Notice of Lien was filed in the land tHles office. (

b) as to subsection (2), by striking out the words "notice of a lien note" and by substituting therefor the words "Notice 'Of Lien". The Rural Electrification Revolving Fund Act 4.

(1) The Rural Electrification Revolving .Fund Act is am.ended by this section.

(2) Section 9 is amended (

a) as to subsection (1), by striking out clause (

e) and by substituting therefor the following: (

e) describing either (

i) the land to which the electricity is to be conveyed,'Or (ii) any land in which the maker of the lien note has an interest, whether or not elec tricity -is to be conveyed to that land, whichever the Director of Co-operative Activi ties prescribes. (

b) by adding the following subsections after subsection (1) : (1.1) ~ihere land, against which the associati'On has a lien pursuant to

section 18, is sold, the associ ation may refuse to supply electricity to the pur chaser of ,the land until the purchaser becomes a member of the associa'tion and executes a lien note.

(1.2) Upon a lien note being made by the pur chaser under subsection (1.1), the Director of Co operative Activities nlay cancel the lien note made by the vendor or made by a former owner of the land. 1

(4) Section 17 presently reads: 17.

(1) When notice in Fo.rm B in the

Schedule is filed the asso.ciation has· a lien (

a) upon the land of a member to which electrIcity is to be conveyed, or (

b) upon the interest of a member in the land to. which electricity is to be conveyed, or (

c) upon the land or the interest in the land of a member in respect of which the associa.tion holds a lien under this Act, to the amount of the lien no.te of the member held by the associa;tion and the lien has the same priority as if it were a mortgage under The Land Titles Act to secure the total amount of the note of the membe·r registered in the proper land titles office at the time a.t which the notice of lien was fUed in such land tHles office.

(2) Land in respect of which nO'tice of a lien note has been filed shall be deemed for the purposes of this Act, not a homestead within the meaning of The Dower Ant. 4.

(1) This

section will amend

chapter 325 of the Revised Statutes of Alberta 197,0.

(2) Section 9, presently reads: 9.

(1) The asso.ciation shall ohtain from those members who have not fully paid up their share .o·f the cost of co.nstructing the works required by the association a lien note in duplicate in Form A in the

Schedule (

a) payable to the order of the association, (

b) in the amount that remains unpaid by the member to the association, (

c) bearing interest at the rate of three and one-half per cent per annum, (

d) setting out (

i) the date from which interest is to be computed, (ii) the number and amount of the equal annual instalments of prinCipal by which payment of the note is to be made, and (iii) the date when each .instalment of principal, and the accrued interest on the upaid principal, is to be paid, and (

e) against ,the land of the member, or the interest of the member in the land, to which the electricity is to. be conveyed.

(2) Where the Director of Co-o.perative Activi,ties deems it expedient to do. so he may appro,ve a lien note against (

a) any land .of the membe'r whether or not electricity is to be co.nveyed to. that land, or (

b) any interest of the member in land whether or not it is an interest in land ,to which electricity is to be conveyed.

(3) The note ,shall be made and signed in the presence of an officer of the assoc.i.ation obtaining it, and shall be ce.rtified by the officer.

(4) The lien no.te shall affeot only the interest of the member in the surface rights of land. 7

(1.3) Where the person to whom the electrieity is to be conveyed 'is not the registered owner of the land to which the electricity is to be conveyed, the association may take a lien note made or co-signed by the regis,tered owner of the land. (

c) by striking ou.t subsection (2), and (

d) as to subsection (3), by striking out the word "note" and by substituting therefor the words "lien note".

(3) Section 17 is amended (

a) by striking out subsection (1) and by sUbstituting therefor the following subsection: 17.

(1) Within 30 days after a loan is approved by the Director of Co-operative Activities, he shall cause a Notice of Lien in Form B in the

Schedule to be filed against the land described in the lien note in the appropriate land titles office. (

b) by striking out subsection (5) and by sUbstituting therefor the following subsections:

(5) Notwithstanding that a lien note has been cancelled under

section 9, subsection (1.2) and not withstanding any other Act, a lien created pursuant to this Act in respect of land or an interest in land continues to be a lien aga:ins't that land or interest until the total indebtedness, including interest, in respect of which the lien was registered has been repaid in full.

(6) Notwithstanding The Limitation of Actions Act, a lien created pursuant to this Act remains enforceable until (

a) the total indebtedness, including interest, owing on the 'current lien note has been repaid in full, or (

b) a settlernent is concluded between the debtor and 'the lien holder.

(4) Section 18 is amended (

a) by striking out subsection (1) and by sUbstituting therefor the following: 18.

(1) Upon a Notice of Lien being filed under

section 17 in the appropriate land tiitles office (

a) the association has a lien upon the land de scribed in the Notice of Lien or upon ,the in terest of the maker of the lien note in the land described in the Notice of Lien f'0r the total indebtedness, 'including interest, owing in re spe'ct of which the Notice of Lien is registered, and 8

(3) Section 17, subsections (1) and (5) presently read: 17.

(1) Within thirty days after a loan is approved by the Director of Co-operative Activities the Director shall cause a notice of the Lien note in Form B in the Sohedule to be filed in the land titles office in the district in which is situated the land for which the assQciation holds a lien nQte.

(5) Notwithstanding anything in any other Act, a lien filed pursuant ,to this Act in respect O'f land 'Or an interest in land continues to be an encumbrance against that land reg,isterec1 in the name of a subsequent owner until the total indebtedness, including' interest, in respect of which the lien was registered, has been repaid in full. Subsection (6) provides that as long as the lien remains against the land it shall be enforceable.

(4) Section 18 presently reads: 18.

(1) When a notice in Form B in the

Schedule is' filed, the association has: a lien (

a) upon the land of the member to which electricity is to be CQn veyed, or (

b) upon the interes't of the member in ,the land to which electricity is to be conveyed, or (

c) upon the land or the interest in the land of the member in respect of which the association holds a lien a's provided by

section 9, s'ubseotion (2), as the case may be, to the amount of the lien note of the member held by the association, and the lien has the same prior.ity as if it were a mortgage under The Land Titles Act to secure the total amount of the note of the member and registered in the proper land Htles office at the time at which the notice referred to in

section 17 was filed .in such land titles office.

(2) Land in respect of which notice of a lien nO'te has been filed shall, for the purposes of this Act, be deemed not to be a homestead within the meaning of The Dower Act. 8

(

b) the lien has the same priority as if it were a mortgage under The Land Titles Act to secure the total amount of the lien note of the member and registered in the proper land titles office at the time at which the Notice of Lien was filed in the land titles office. (

b) as to subsection (2), by striking out the words "notice of a lien note" and by substituting thereto'}" the words "Notice of Lien". . - Commencement 5. This Act comes into force on the day upon which it is assented to. 9 Title: 1974 (17th, 3rd) Bill 39, The Agriculture Statutes Amendment Act, 1974 (No. 2)

Document details

Collection	Alberta — Bills
Citation	L17 S3 5305
Type	bill
Volume / chapter	L17 S3 5305
Language	en
Format	json
Source	PROVINCIAL
Identifier	d5eed40134026f35be1b22c02001f20ef8728c55

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