A-32 - Act respecting insurance

Section 93.254 Disposition versions

1996-12-23

93.254. No guarantee fund may, in exercising the powers conferred on it by this division,

(1)  invest more than 25% of its assets in investments contemplated in sections 93.249 and 93.250;

(2)  acquire more than 5% of the shares of the same legal person.

Furthermore, no guarantee fund may acquire shares, bonds or other evidences of indebtedness of a legal person which has failed to pay the prescribed dividends on its shares or the interest on its bonds or other evidences of indebtedness except in the case of preferred shares issued by one of its members.

1985, c. 17, s. 6; 1996, c. 63, s. 80, s. 81.

1985-09-11

93.254. No corporation may, in exercising the powers conferred on it by this division,

(1)  invest more than 25% of its assets in investments contemplated in sections 93.249 and 93.250;

(2)  acquire more than 5% of the shares of the same corporation.

Furthermore, no corporation may acquire shares, bonds or other evidences of indebtedness of a corporation which has failed to pay the prescribed dividends on its shares or the interest on its bonds or other evidences of indebtedness except in the case of preferred shares issued by one of its members.

1985, c. 17, s. 6.