A-32 - Act respecting insurance

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178. Mutual insurance associations may amalgamate. The same applies to mutual damage-insurance companies.
1974, c. 70, s. 178; 1985, c. 17, s. 21.
178. The following may amalgamate with a mutual fire insurance association incorporated under this act:
(a)  any other association so incorporated;
(b)  any mutual fire insurance company, in the counties, incorporated under Division II of the Insurance Act (Revised Statutes, 1964, chapter 295) replaced by chapter 70 of the statutes of 1974;
(c)  any mutual company of insurance against fire, lightning or wind formed by a municipal council and incorporated under Division VI of the said Insurance Act;
(d)  any mutual company of insurance against fire, lightning and wind formed by individuals in a parish or a local municipality and incorporated under Division VII of the said Insurance Act.
Several mutual companies contemplated in subparagraphs b, c and d may also amalgamate if they are converted at the same time into a mutual fire insurance association incorporated under this act.
1974, c. 70, s. 178.