A-32.1 - Insurers Act

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113. Unless the obligations of an authorized Québec insurer under the following contracts are minimal, such contracts must be submitted to its board of directors for approval:
(1)  a contract for the acquisition, by the insurer, of securities issued by a natural person or group that is a restricted party with respect to the insurer or for the transfer of assets between them; and
(2)  a service contract between the insurer and a natural person or group that is a restricted party with respect to the insurer.
Before approving such contracts, the board of directors must obtain the opinion of the ethics committee.
2018, c. 23, s. 32018, c. 23, s. 3.
In force: 2019-06-13
113. Unless the obligations of an authorized Québec insurer under the following contracts are minimal, such contracts must be submitted to its board of directors for approval:
(1)  a contract for the acquisition, by the insurer, of securities issued by a natural person or group that is a restricted party with respect to the insurer or for the transfer of assets between them; and
(2)  a service contract between the insurer and a natural person or group that is a restricted party with respect to the insurer.
Before approving such contracts, the board of directors must obtain the opinion of the ethics committee.
2018, c. 23, s. 32018, c. 23, s. 3.