A-32 - Act respecting insurance

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265. (Repealed).
1974, c. 70, s. 265; 1990, c. 86, s. 30.
265. The directors or officers of any insurer who assent to a loan or investment in contravention of sections 259 and 262 are jointly and severally liable towards the insurer and third persons, up to the amount of the loss thus sustained, for all the debts contracted by the insurer after the said loan and until its repayment.
1974, c. 70, s. 265.