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A-32 - Act respecting insurance
Section 272
Disposition versions
272. The sole fact that the loans or investments made by an insurer comply with this Act does not exempt the directors and officers of that insurer from liability.
272. (1) The directors of an insurer are not exempt from liability merely because the investments of the insurer are in conformity with this act.
(2) The directors of an insurer who have assented to an investment which is not in conformity with this act are, ipso facto, jointly and severally liable for the losses from such investment.
