A-32.1 - Insurers Act

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397. A majority of the directors of a federation must be elected from among the directors of its member mutual companies who are mutual members.
The federation’s by-laws prescribe the manner in which all members of the board of directors are to be elected. They may provide that the general managers of the member companies may be elected as federation directors. However, such managers may not make up more than one-third of the federation’s board of directors.
2018, c. 23, s. 32018, c. 23, s. 3.
In force: 2019-06-13
397. A majority of the directors of a federation must be elected from among the directors of its member mutual companies who are mutual members.
The federation’s by-laws prescribe the manner in which all members of the board of directors are to be elected. They may provide that the general managers of the member companies may be elected as federation directors. However, such managers may not make up more than one-third of the federation’s board of directors.
2018, c. 23, s. 32018, c. 23, s. 3.