266. A majority of an insurance company’s or association’s directors must be resident in Québec.
Despite the first paragraph, one-third of an insurance company’s directors must be resident in Québec if more than 40% of the premiums are collected by the company outside Québec or, if the company does not collect that proportion of premiums and if it belongs to a financial group, if more than 40% of the premiums are collected by the group outside Québec, provided that the majority of the directors of the company reside in Canada.
2018, c. 23, s. 32018, c. 23, s. 3; 2024, c. 152024, c. 15, s. 511; 2025, c. 162025, c. 16, s. 1231.