A-32 - Act respecting insurance

Section 250 Disposition versions

1984-06-20

250. (Repealed).

1974, c. 70, s. 250; 1982, c. 52, s. 80; 1984, c. 22, s. 49.

1983-04-01

250. Any insurer that is not a mutual benefit association and which transacts life insurance may, subject to the conditions prescribed by the regulations, acquire and hold fully paid shares:

(a)  of any corporation incorporated outside Québec to transact life insurance and not licensed in Québec;

(b)  of any corporation incorporated to provide the insurer or a corporation mentioned in paragraph a with consulting, management or sales distribution services respecting life insurance benefits the amount of which varies according to the market value of a specified group of assets;

(c)  of any corporation incorporated to transact damage insurance;

(d)  of any corporation the sole object of which is to acquire, hold, lease or administer immoveables;

(e)  of any corporation incorporated to offer participation in an investment portfolio;

(f)  of any corporation incorporated to provide a corporation mentioned in paragraph e with consulting, management or sales distribution services; or

(g)  with the prior approval of the Inspector General, of any corporation incorporated to carry on the business ancillary to the business of insurance determined by regulation.

1974, c. 70, s. 250; 1982, c. 52, s. 80.

1977-12-31

250. Any insurer that is not a mutual benefit association and which transacts life insurance may, subject to the conditions prescribed by the regulations, acquire and hold fully paid shares:

(a)  of any corporation incorporated outside Québec to transact life insurance and not licensed in Québec;

(b)  of any corporation incorporated to provide the insurer or a corporation mentioned in paragraph a with consulting, management or sales distribution services respecting life insurance benefits the amount of which varies according to the market value of a specified group of assets;

(c)  of any corporation incorporated to transact damage insurance;

(d)  of any corporation the sole object of which is to acquire, hold, lease or administer immoveables;

(e)  of any corporation incorporated to offer participation in an investment portfolio;

(f)  of any corporation incorporated to provide a corporation mentioned in paragraph e with consulting, management or sales distribution services; or

(g)  with the prior approval of the Superintendent, of any corporation incorporated to carry on the business ancillary to the business of insurance determined by regulation.

1974, c. 70, s. 250.