A-32 - Act respecting insurance

Section 282 Disposition versions

2003-02-12

282. (Repealed).

1974, c. 70, s. 282; 1982, c. 52, s. 80; 2002, c. 70, s. 112.

1983-04-01

282. The insurer may also, in the same manner, pay into such separate group of assets amounts or securities from other separate groups of assets assigned to its life insurance business; however,

(a)  the amounts from the same group of assets must not, without the authorization of the Inspector General, be greater than the amount by which 25 per cent of the surplus of that group of assets exceeds all the amounts derived from that group which have been paid into the groups of assets contemplated in section 280 less the amounts withdrawn from them in accordance with section 284;

(b)  the amounts from all those other groups of assets must not, without the authorization of the Inspector General, be greater than the amount by which 10 per cent of the surplus of those groups of assets or $2 000 000, whichever is the lesser, exceeds all the amounts from such groups of assets which have been paid into the groups of assets contemplated in section 280 less the amounts withdrawn from them in accordance with section 284.

Every amount contemplated by this section shall be computed at the market value of the assets concerned.

1974, c. 70, s. 282; 1982, c. 52, s. 80.

1977-12-31

282. The insurer may also, in the same manner, pay into such separate group of assets amounts or securities from other separate groups of assets assigned to its life insurance business; however,

(a)  the amounts from the same group of assets must not, without the authorization of the Superintendent, be greater than the amount by which 25 per cent of the surplus of that group of assets exceeds all the amounts derived from that group which have been paid into the groups of assets contemplated in section 280 less the amounts withdrawn from them in accordance with section 284;

(b)  the amounts from all those other groups of assets must not, without the authorization of the Superintendent, be greater than the amount by which 10 per cent of the surplus of those groups of assets or $2,000,000, whichever is the lesser, exceeds all the amounts from such groups of assets which have been paid into the groups of assets contemplated in section 280 less the amounts withdrawn from them in accordance with section 284.

Every amount contemplated by this section shall be computed at the market value of the assets concerned.

1974, c. 70, s. 282.