Government of Saskatchewan
Tuesday, October 24, 2017
Financial and Consumer Affairs Authority

The Trust and Loan Corporations Act, 1997 (the “T&L Act”) provides the legislative framework for the regulation of trust corporations, loan corporations and financing corporations.

A trust corporation accepts deposits from the public or performs traditional trust functions.  

A loan corporation accepts deposits from the public and lends money to the public, deals in or purchases mortgages on real property, deals in accounts receivable, or has as its primary business the granting of revolving credit.  A loan corporation cannot be the trustee to a trust.  

A financing corporation lends money to the public, deals in or purchases mortgages on real property, deals in accounts receivable, or has as its primary business the granting of revolving credit.  Financing corporations cannot accept deposits, and cannot be the trustee to a trust.

If you are seeking a licence as a trust, loan, or financing corporation, you must:

  • Submit a completed application form, indicating which licence you are seeking;
  • Provide all of the supporting materials described in the licensing kit;
  • Remit the $1000 application fee;
  • Remit the pro-rated first year licence fee (note: this fee will be refunded if your application is refused).  The licence fee is based on the size of the applicant, and the number of months in the first calendar year it will be licensed. 

Annual Fees for the 2015 Licence Year and subsequent years are increased for larger corporations; the amount payable is also based on licensing category:

  • Total assets less than $10 million: $166.67 per month ($2,000 for the year); or
  • Total assets greater than $10 million and applicant to be licensed as a:
    • financing corporation: $708.33 per month ($8,500 for the year); or
    • trust or loan corporation: $833.33 per month ($10,000 for the year)

Any overpayment of the first year licence fee will be refunded based on the number of months remaining in the year when the licence is issued.

Saskatchewan incorporated entities seeking a trust licence or a loan licence must contact the office of the Superintendent of Financial Institutions to discuss additional requirements.



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