A-32 - Act respecting insurance

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62.1. Except in the case of a short-term loan to meet its liquidity needs, no insurer may issue bonds or other evidences of indebtedness unless
(1)  they are unsecured;
(2)  following such issue, the insurer’s total bonds and other evidences of indebtedness do not exceed the limits determined by regulation;
(3)  they comply with the terms and conditions prescribed by regulation.
1984, c. 22, s. 27; 2003, c. 1, s. 3.
62.1. Except in the case of a short-term loan to meet its liquidity needs, no insurer may issue bonds or other evidences of indebtedness unless
(1)  they are unsecured;
(2)  they stipulate that the indebtedness evidenced by them will, in the event of the insolvency or winding-up of the insurer, rank
(a)  after the other debts;
(b)  equally with the other unsecured evidences of indebtedness issued by it;
(c)  before the subordinated shareholder loans;
(3)  they comply with the terms and conditions prescribed by regulation.
1984, c. 22, s. 27.