A-32.1 - Insurers Act

Full text
110. The following natural persons and groups are restricted parties with respect to an authorized Québec insurer:
(1)  the insurer’s directors and officers;
(2)  the directors and officers of the group that is the holder of control of the insurer or, if the insurer is a mutual company that is a member of a federation, the federation’s directors and officers;
(3)  the holder of a significant interest in the insurer;
(4)  natural persons and groups having economic ties with the persons described in subparagraphs 1 to 3, except a group of which the insurer is the holder of control;
(5)  a group whose board of directors is composed, in the majority, of members of the insurer’s board of directors; and
(6)  any other person or group designated under section 112.
An authorized financial institution is not a group that is a restricted party with respect to an insurer if the financial institution is the holder of exclusive control of the insurer, or if it is the holder of control of the insurer and both the authorized financial institution and the insurer have the same holder of exclusive control.
2018, c. 23, s. 32018, c. 23, s. 3.
In force: 2019-06-13
110. The following natural persons and groups are restricted parties with respect to an authorized Québec insurer:
(1)  the insurer’s directors and officers;
(2)  the directors and officers of the group that is the holder of control of the insurer or, if the insurer is a mutual company that is a member of a federation, the federation’s directors and officers;
(3)  the holder of a significant interest in the insurer;
(4)  natural persons and groups having economic ties with the persons described in subparagraphs 1 to 3, except a group of which the insurer is the holder of control;
(5)  a group whose board of directors is composed, in the majority, of members of the insurer’s board of directors; and
(6)  any other person or group designated under section 112.
An authorized financial institution is not a group that is a restricted party with respect to an insurer if the financial institution is the holder of exclusive control of the insurer, or if it is the holder of control of the insurer and both the authorized financial institution and the insurer have the same holder of exclusive control.
2018, c. 23, s. 32018, c. 23, s. 3.