In force: 2019-06-13
193. An order placing an authorized reciprocal union under receivership, issued under the Act respecting the regulation of the financial sector (chapter E-6.1), may only apply to the mandatary, the union’s organs or the persons in the union. The order has effect only in relation to the insurer activities they carry on.
Despite section 19.2 of that Act, the receivership order only empowers the receiver to take possession of the property held for the union by the mandatary and to liquidate the assets held by the mandatary.