A-32.1 - Insurers Act

Article 402 Versions de la disposition

2025-06-04

402. A federation’s by-laws establish the conditions for the admission, withdrawal or expulsion of member companies and auxiliary companies as well as their rights and obligations.

A federation’s by-laws prescribe in particular, regarding an auxiliary company,

1°  a period of admission of at least five years;

2°  in the event that an auxiliary company is an authorized insurer, any expression referred to in section 385 that must be included in its name;

3°  an examination of its books and accounts at least once every two years; and

4°  the information the federation may require of it as well as the documents that must be provided to the federation to show the Authority that, despite its admission, the federation adheres to sound and prudent management practices.

The conditions, rights and obligations referred to in the first paragraph and the elements listed in the second paragraph are submitted to the Authority for approval.

2018, c. 23, s. 3; 2025, c. 16, s. 61.

2019-06-13

402. A federation’s by-laws establish the conditions on which mutual companies may be admitted as members and members may withdraw or be expelled as well as members’ rights and obligations.

Those conditions, rights and obligations are submitted to the Authority for approval.

2018, c. 23, s. 3.

Non en vigueur

In force: 2019-06-13

402. A federation’s by-laws establish the conditions on which mutual companies may be admitted as members and members may withdraw or be expelled as well as members’ rights and obligations.

Those conditions, rights and obligations are submitted to the Authority for approval.

2018, c. 23, s. 3.