A-32.1 - Insurers Act

Section 19 Disposition versions

2019-06-13

19. The contributed capital of a legal person is composed of the consideration paid to the legal person for,

(1)  in the case of a business corporation, the shares of its share capital;

(2)  in the case of a joint-stock company, the shares of its capital stock; and

(3)  in the case of a cooperative, a financial services cooperative or a mutual company, the shares of its capital stock or share capital.

The contributed capital of a partnership is composed,

(1)  in the case of a general partnership, of the contribution made by each partner to obtain a share in the partnership; and

(2)  in the case of a limited partnership, of the contribution made by the special partners to the partnership’s common stock.

2018, c. 23, s. 3.

Not in force

In force: 2019-06-13

19. The contributed capital of a legal person is composed of the consideration paid to the legal person for,

(1)  in the case of a business corporation, the shares of its share capital;

(2)  in the case of a joint-stock company, the shares of its capital stock; and

(3)  in the case of a cooperative, a financial services cooperative or a mutual company, the shares of its capital stock or share capital.

The contributed capital of a partnership is composed,

(1)  in the case of a general partnership, of the contribution made by each partner to obtain a share in the partnership; and

(2)  in the case of a limited partnership, of the contribution made by the special partners to the partnership’s common stock.

2018, c. 23, s. 3.