A-32.1, r. 1 - Regulation under the Act respecting insurance

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76. Subject to the provisions of this subdivision, any creditor may underwrite a group insurance contract on the life or health of debtors that provides coverage up to the amounts loaned.
The insurance may also cover the life or health of persons other than debtors, but only if the creditor has a pecuniary interest in their life or health.
O.C. 887-2009, s. 76.