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A-32 - Act respecting insurance

Section 285.22
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285.22. All contracts and operations of an insurer with restricted parties must comply with the rules adopted by the ethics committee and the provisions of this Act.
1990, c. 86, s. 39; 2002, c. 70, s. 118.
285.22. Every transaction by an insurer to acquire securities issued by a restricted party or to transfer assets between them must, in addition, be approved by the board of directors of the insurer, which shall, where applicable, obtain the opinion of the ethics committee.
No bad debts, unproductive assets or assets repossessed from a debtor in default may be transferred to an insurer, except in the case of a transfer of assets en bloc authorized by the Inspector General as part of a reorganization.
1990, c. 86, s. 39.
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