A-32.1 - Insurers Act

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268. The board of directors of a regulated business corporation of which a mutual company is the holder of control and which is authorized to carry on activities in the same class as the latter must include at least one director elected exclusively by its members, other than shareholders, present at the meeting during which the other directors are elected.
The number of directors that must be elected by those members is determined by the business corporation’s by-laws. It may not exceed one-third of the board of directors.
2018, c. 23, s. 32018, c. 23, s. 3.
In force: 2019-06-13
268. The board of directors of a regulated business corporation of which a mutual company is the holder of control and which is authorized to carry on activities in the same class as the latter must include at least one director elected exclusively by its members, other than shareholders, present at the meeting during which the other directors are elected.
The number of directors that must be elected by those members is determined by the business corporation’s by-laws. It may not exceed one-third of the board of directors.
2018, c. 23, s. 32018, c. 23, s. 3.