According to the bill, if a loan is written off, the association becomes liable for the debt. This seems to be an automatic consequence of the bill. The bill does not mention whether the association had agreed to collaterize the loan.
In conclusion, Mr. Chair and members of the committee, I believe you are looking to begin your work on the clause-by-clause shortly. Because it's a rather heavily technical piece of legislation, I would certainly offer that expert staff from my office be available to assist you on technical aspects as you go through the clause-by-clause. If that's something that would serve the committee, we will gladly make sure that resources, experts, are available to you to assist in your deliberations.
Thank you. Merci.