A-32.1 - Insurers Act

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169. The Authority may not revoke the authorization of an authorized insurer that applies for its revocation and that, at the time of the application, is bound by contracts underwritten in accordance with the authorization, unless the insurer
(1)  continues to be bound by those contracts; or
(2)  has made the necessary arrangements to have at least one other authorized financial institution or a bank succeed it in its financial institution activities as of the date on which it plans to cease to be bound by those contracts.
2018, c. 23, s. 32018, c. 23, s. 3.
In force: 2019-06-13
169. The Authority may not revoke the authorization of an authorized insurer that applies for its revocation and that, at the time of the application, is bound by contracts underwritten in accordance with the authorization, unless the insurer
(1)  continues to be bound by those contracts; or
(2)  has made the necessary arrangements to have at least one other authorized financial institution or a bank succeed it in its financial institution activities as of the date on which it plans to cease to be bound by those contracts.
2018, c. 23, s. 32018, c. 23, s. 3.