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Loan and Trust Companies

The Loan and Trust Companies Act of New Brunswick regulates the licensing and incorporation of a loan or trust company in the province.

A loan company is a company operated for the purpose of receiving deposits from the public and lending or investing those deposits. It does not include a bank, an insurance corporation, a trust company, or a credit union.

A trust company is a company which offers its services to the public to act as trustee, bailee, agent, executor, administrator, receiver, liquidator, assignee, guardian of a minor's estate or committee of a mentally incompetent person's estate and, if not restricted under the Loan and Trust Companies Act, receives deposits from the public and lends or invests those deposits.

Licensing information

There are two types of loan and trust companies: provincially-incorporated companies and extra-provincial incorporated companies. A provincial loan or trust company comes into existence by application to the superintendent by one or more persons and, upon approval of the Lieutenant-Governor in Council, letters patent may be issued.

An extra-provincial loan or trust company is incorporated under federal legislation or the legislation of another province. For further information on incorporating or licensing under the Loan and Trust Companies Act, contact the Office of the Superintendent of Loan and Trust Companies.

The following capital base is required prior to incorporating or licensing such companies:

  • loan company - $3,000,000
  • trust company - $5,000,000
  • restricted trust company - $100,000

No person other than a licensed loan company or licensed trust company shall conduct, undertake or transact the business of a loan company or trust company in New Brunswick. The required licence is obtained upon the submission of an application to the Superintendent. This application should be filed with the superintendent along with designated information under the Act and any additional information requested by the superintendent.

No licensed loan or trust company is permitted to accept deposits in New Brunswick unless the company is a member institution within the meaning of the Canada Deposit Insurance Corporation Act. The regulations under the Loan and Trust Companies Act set out various requirements, fees, and responsibilities of such companies incorporated or licensed under this Act.




Review of application for letters patent


Issue of letters patent




Review of application for first licence


For issue of subsequent licence (annually)


Review of name



Other fees are set out in the regulations, based on actions or requests by a licensed company. Please review Regulation 92-47 under the Loan and Trust Companies Act to see all fees payable under the Act and Regulations.