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Loan and suretyship

See field: provincial, school board

Loan

Only the official representative may contract a loan for a party or an authorized independent candidate. This loan may only be contracted with an elector of the municipality or a financial institution, at the current market rate of interest.

Maximum for an elector

Loans and suretyships granted by an elector to one or more political parties or authorized independent candidates cannot exceed a total of $10,000. The lenders may be the candidates themselves. There is no stipulated maximum for a loan made in a recognized financial institution.

Loan from an elector

If a loan from an elector is granted at an interest rate that is less than the current rate, the difference between the two rates must be considered a contribution by the elector and a contribution receipt must be issued to him.