O-6, r. 8 - Regulation respecting the practice of the profession of dispensing optician within a partnership or a joint-stock company

Section 9 Disposition versions

2016-01-01

9. The security must include

(1)  an undertaking by the insurer or surety to pay in lieu of the partnership or joint-stock company, over and above the amount of the security to be furnished by the dispensing optician pursuant to the Règlement sur l’assurance-responsabilité professionnelle des membres de l’Ordre des opticiens d’ordonnances du Québec (Décision, 83-02-09), up to the amount of the security, any sum that the partnership or joint-stock company may be legally bound to pay to third persons on a claim filed during the coverage period and arising from fault on the part of the dispensing optician in the carrying on of professional activities within the partnership or joint-stock company;

(2)  an undertaking by the insurer or surety to take up the cause of the partnership or joint-stock company and defend it in any action against it and to pay, in addition to the amounts covered by the security, all legal costs and expenses of actions against the partnership or joint-stock company, including those of the inquiry and defence and interest on the amount of the security;

(3)  an undertaking that the security is not less than $1,000,000 per claim and $2,000,000 per year for all claims filed against the partnership or joint-stock company within a 12-month coverage period;

(4)  an undertaking by the insurer or surety to give the secretary of the Order a 30-day prior notice before terminating or modifying the insurance or suretyship contract when the modification affects a condition set out in this Regulation; and

(5)  an undertaking by the insurer or surety to immediately notify the secretary of the Order when the insurance or suretyship contract is not renewed.

The suretyship contract referred to in section 8 must be with a bank, savings and credit union, trust or insurance company and provide that the surety will provide the coverage in accordance with the conditions of this Regulation and will pay, by waiving the benefit of division and discussion, in lieu of the partnership or joint-stock company up to the amount of the suretyship.

O.C. 1104-2009, s. 9; I.N. 2016-01-01 (NCCP).

2012-09-01

9. The security must include

(1)  an undertaking by the insurer or surety to pay in lieu of the partnership or joint-stock company, over and above the amount of the security to be furnished by the dispensing optician pursuant to the Règlement sur l’assurance-responsabilité professionnelle des membres de l’Ordre des opticiens d’ordonnances du Québec (Décision, 83-02-09), up to the amount of the security, any sum that the partnership or joint-stock company may be legally bound to pay to third persons on a claim filed during the coverage period and arising from fault on the part of the dispensing optician in the carrying on of professional activities within the partnership or joint-stock company;

(2)  an undertaking by the insurer or surety to take up the cause of the partnership or joint-stock company and defend it in any action against it and to pay, in addition to the amounts covered by the security, all legal costs of actions against the partnership or joint-stock company, including the costs of the inquiry and defence and interest on the amount of the security;

(3)  an undertaking that the security is not less than $1,000,000 per claim and $2,000,000 per year for all claims filed against the partnership or joint-stock company within a 12-month coverage period;

(4)  an undertaking by the insurer or surety to give the secretary of the Order a 30-day prior notice before terminating or modifying the insurance or suretyship contract when the modification affects a condition set out in this Regulation; and

(5)  an undertaking by the insurer or surety to immediately notify the secretary of the Order when the insurance or suretyship contract is not renewed.

The suretyship contract referred to in section 8 must be with a bank, savings and credit union, trust or insurance company and provide that the surety will provide the coverage in accordance with the conditions of this Regulation and will pay, by waiving the benefit of division and discussion, in lieu of the partnership or joint-stock company up to the amount of the suretyship.

O.C. 1104-2009, s. 9.