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A-32 - Act respecting insurance

Section 244.1
Disposition versions

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244.1. An insurer other than a mutual insurance association may not acquire directly or through a partnership or legal person it controls more than 30% of the assets or the voting rights attached to the shares of a legal person, or more than 30% of the assets or the voting rights attached to the shares of a cooperative or other similar legal person whose head office is situated outside Québec. The voting rights may not enable the insurer to elect more than one-third of the directors of the legal person.
A mutual insurance association may not acquire directly or through a partnership or legal person it controls, alone or jointly with a legal person of its group, more than 30% of the assets or the voting rights attached to the shares of a legal person, or more than 30% of the assets or the voting rights attached to the shares of a cooperative or other similar legal person whose head office is situated outside Québec. The voting rights attached to the shares may not enable the association to elect more than one-third of the directors of the legal person.
2002, c. 70, s. 99.
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