A-32.1 - Insurers Act

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425. If the federation exercises the right to request the redemption of the shares that it has acquired in compliance with this division, the amount of the shares for which it requests redemption in a year must be limited to the lesser of
(1)  the balance of the non-redeemed shares;
(2)  50% of the net profit realized by the member company in the fiscal year; and
(3)  the sum whose payment would decrease a member company’s capital below the amount necessary to ensure its sustainability.
2018, c. 23, s. 32018, c. 23, s. 3.
In force: 2019-06-13
425. If the federation exercises the right to request the redemption of the shares that it has acquired in compliance with this division, the amount of the shares for which it requests redemption in a year must be limited to the lesser of
(1)  the balance of the non-redeemed shares;
(2)  50% of the net profit realized by the member company in the fiscal year; and
(3)  the sum whose payment would decrease a member company’s capital below the amount necessary to ensure its sustainability.
2018, c. 23, s. 32018, c. 23, s. 3.