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A-32.1, r. 1 - Regulation under the Act respecting insurance

Section 53
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53. Subject to section 54, the reserve of each of the funds established by a mutual benefit association must be calculated so that it is sufficient to guarantee payment at maturity of the association’s obligations in respect of each of the funds.
In calculating the reserve, the actuary must not take into account a possible reduction in mutual benefits or increase in assessments arising from an amendment to the by-laws of the mutual benefit association after the valuation date.
O.C. 887-2009, s. 53.
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