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.