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A-32.1 - Insurers Act
Section 421
Disposition versions
421. A member company resigning or expelled from the federation may, by sending a written notice at least 90 days before the end of the guarantee fund’s fiscal year, request the repayment of its contributions.
The repayment corresponds to the lesser of
(1) the total contributions the member company paid; and
(2) the amount obtained by multiplying the surplus of the assets of the guarantee fund over its liabilities by the proportion referred to in paragraph 2 of section 420.
The repayment may not be made before the following fiscal year.
In force: 2019-06-13
421. A member company resigning or expelled from the federation may, by sending a written notice at least 90 days before the end of the guarantee fund’s fiscal year, request the repayment of its contributions.
The repayment corresponds to the lesser of
(1) the total contributions the member company paid; and
(2) the amount obtained by multiplying the surplus of the assets of the guarantee fund over its liabilities by the proportion referred to in paragraph 2 of section 420.
The repayment may not be made before the following fiscal year.
