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A-32 - Act respecting insurance

Section 378
Disposition versions

Full text
378. (Repealed).
1974, c. 70, s. 378; 1982, c. 52, s. 80; 1985, c. 17, s. 45; 1987, c. 54, s. 21; 1994, c. 40, s. 457; 1996, c. 63, s. 73; 1999, c. 40, s. 33; 2002, c. 45, s. 239; 2004, c. 37, s. 90; 2008, c. 7, s. 44.
378. The Authority, or at its request, any person designated by the Minister may, following an inspection made in accordance with this Act or the filing of the annual statement of an insurer constituted under the laws of Québec or pursuant to the request of 100 members or, in the case of a professional order, of 100 insured members or of shareholders representing 10 % in value of the shares, provisionally assume the administration thereof for a period of seven working days the Authority has reason to believe:
(a)  that the assets have been misappropriated or the Authority finds that there is an inexplicable deficiency in the assets;
(b)  that the assets are less than the liabilities consisting of losses and current contracts, or are susceptible of becoming less than the liabilities consisting of losses, taking into account the provisions, less in all cases the debts due to the insurer on those policies;
(c)  that the assets, in the case of a mutual benefit association or any of its funds, are insufficient to cover the benefits actually exigible or will not be sufficient, taking into account the compulsory reserves, to cover the benefits that may become exigible, less in all cases the debts due to the insurer on the contracts;
(d)  that the assets are insufficient to assure effective protection for the insured;
(e)  that there has been a serious offence, especially malfeasance or breach of trust by one or more members of the board of directors, or that the board has been seriously remiss in the performance of the obligations imposed upon it by this Act or engages in management practices which endanger the rights of the insured persons or the members.
The provisional administrator may authorize the persons he designates to exercise such functions as he may determine.
1974, c. 70, s. 378; 1982, c. 52, s. 80; 1985, c. 17, s. 45; 1987, c. 54, s. 21; 1994, c. 40, s. 457; 1996, c. 63, s. 73; 1999, c. 40, s. 33; 2002, c. 45, s. 239; 2004, c. 37, s. 90.
378. The Agency, or at its request, any person designated by the Minister may, following an inspection made in accordance with this Act or the filing of the annual statement of an insurer constituted under the laws of Québec or pursuant to the request of 100 members or, in the case of a professional order, of 100 insured members or of shareholders representing 10 % in value of the shares, provisionally assume the administration thereof for a period of seven working days the Agency has reason to believe:
(a)  that the assets have been misappropriated or the Agency finds that there is an inexplicable deficiency in the assets;
(b)  that the assets are less than the liabilities consisting of losses and current contracts, or are susceptible of becoming less than the liabilities consisting of losses, taking into account the provisions, less in all cases the debts due to the insurer on those policies;
(c)  that the assets, in the case of a mutual benefit association or any of its funds, are insufficient to cover the benefits actually exigible or will not be sufficient, taking into account the compulsory reserves, to cover the benefits that may become exigible, less in all cases the debts due to the insurer on the contracts;
(d)  that the assets are insufficient to assure effective protection for the insured;
(e)  that there has been a serious offence, especially malfeasance or breach of trust by one or more members of the board of directors, or that the board has been seriously remiss in the performance of the obligations imposed upon it by this Act or engages in management practices which endanger the rights of the insured persons or the members.
The provisional administrator may authorize the persons he designates to exercise such functions as he may determine.
1974, c. 70, s. 378; 1982, c. 52, s. 80; 1985, c. 17, s. 45; 1987, c. 54, s. 21; 1994, c. 40, s. 457; 1996, c. 63, s. 73; 1999, c. 40, s. 33; 2002, c. 45, s. 239.
378. The Inspector General or, if he is absent or unable to act, or at his request, any person designated by the Minister may, following an inspection made in accordance with this Act or the filing of the annual statement of an insurer constituted under the laws of Québec or pursuant to the request of 100 members or, in the case of a professional order, of 100 insured members or of shareholders representing 10 % in value of the shares, provisionally assume the administration thereof for a period of seven working days if he has reason to believe:
(a)  that the assets have been misappropriated or if he finds that there is an inexplicable deficiency in the assets;
(b)  that the assets are less than the liabilities consisting of losses and current contracts, or are susceptible of becoming less than the liabilities consisting of losses, taking into account the provisions, less in all cases the debts due to the insurer on those policies;
(c)  that the assets, in the case of a mutual benefit association or any of its funds, are insufficient to cover the benefits actually exigible or will not be sufficient, taking into account the compulsory reserves, to cover the benefits that may become exigible, less in all cases the debts due to the insurer on the contracts;
(d)  that the assets are insufficient to assure effective protection for the insured;
(e)  that there has been a serious offence, especially malfeasance or breach of trust by one or more members of the board of directors, or that the board has been seriously remiss in the performance of the obligations imposed upon it by this Act or engages in administrative practices which endanger the rights of the insured persons or the members.
The provisional administrator may authorize the persons he designates to exercise such functions as he may determine.
1974, c. 70, s. 378; 1982, c. 52, s. 80; 1985, c. 17, s. 45; 1987, c. 54, s. 21; 1994, c. 40, s. 457; 1996, c. 63, s. 73; 1999, c. 40, s. 33.
378. The Inspector General or, if he is absent or unable to act, or at his request, any person designated by the Minister may, following an inspection made in accordance with this Act or the filing of the annual statement of an insurer incorporated under the laws of Québec or pursuant to the request of 100 members or, in the case of a professional order, of 100 insured members or of shareholders representing 10 % in value of the shares, provisionally assume the administration thereof for a period of seven working days if he has reason to believe:
(a)  that the assets have been misappropriated or if he finds that there is an inexplicable deficiency in the assets;
(b)  that the assets are less than the liabilities consisting of losses and current contracts, or are susceptible of becoming less than the liabilities consisting of losses, taking into account the provisions, less in all cases the debts due to the insurer on those policies;
(c)  that the assets, in the case of a mutual benefit association or any of its funds, are insufficient to cover the benefits actually exigible or will not be sufficient, taking into account the compulsory reserves, to cover the benefits that may become exigible, less in all cases the debts due to the insurer on the contracts;
(d)  that the assets are insufficient to assure effective protection for the insured;
(e)  that there has been a serious offence, especially malfeasance or breach of trust by one or more members of the board of directors, or that the board has been seriously remiss in the performance of the obligations imposed upon it by this Act or engages in administrative practices which endanger the rights of the insured persons or the members.
The provisional administrator may authorize the persons he designates to exercise such functions as he may determine.
1974, c. 70, s. 378; 1982, c. 52, s. 80; 1985, c. 17, s. 45; 1987, c. 54, s. 21; 1994, c. 40, s. 457; 1996, c. 63, s. 73.
378. The Inspector General or, at his request or if he is absent or unable to act, any person designated by the Minister may, following an inspection made in accordance with this Act or the filing of the annual statement of an insurer incorporated under the laws of Québec or pursuant to the request of 100 members or, in the case of a professional order, of 100 insured members or of shareholders representing 10% in value of the shares, provisionally assume the administration thereof for a period of seven working days if he has reason to believe:
(a)  that the assets have been misappropriated or if he finds that there is an inexplicable deficiency in the assets;
(b)  that the assets are less than the liabilities consisting of losses and current contracts, or are susceptible of becoming less than the liabilities consisting of losses, taking into account the compulsory reserves, less in all cases the debts due to the insurer on those policies;
(c)  that the assets, in the case of a mutual benefit association or any of its funds, are insufficient to cover the benefits actually exigible or will not be sufficient, taking into account the compulsory reserves, to cover the benefits that may become exigible, less in all cases the debts due to the insurer on the contracts;
(d)  that the assets are insufficient to assure effective protection for the insured;
(e)  that there has been a serious offence, especially malfeasance or breach of trust by one or more members of the board of directors, or that the board has been seriously remiss in the performance of the obligations imposed upon it by this Act or engages in administrative practices which endanger the rights of the insured persons or the members.
The provisional administrator may authorize the persons he designates to exercise such functions as he may determine.
1974, c. 70, s. 378; 1982, c. 52, s. 80; 1985, c. 17, s. 45; 1987, c. 54, s. 21; 1994, c. 40, s. 457.
378. The Inspector General or, at his request or if he is absent or unable to act, any person designated by the Minister may, following an inspection made in accordance with this Act or the filing of the annual statement of an insurer incorporated under the laws of Québec or pursuant to the request of 100 members or, in the case of a professional corporation, of 100 insured members or of shareholders representing 10% in value of the shares, provisionally assume the administration thereof for a period of seven working days if he has reason to believe:
(a)  that the assets have been misappropriated or if he finds that there is an inexplicable deficiency in the assets;
(b)  that the assets are less than the liabilities consisting of losses and current contracts, or are susceptible of becoming less than the liabilities consisting of losses, taking into account the compulsory reserves, less in all cases the debts due to the insurer on those policies;
(c)  that the assets, in the case of a mutual benefit association or any of its funds, are insufficient to cover the benefits actually exigible or will not be sufficient, taking into account the compulsory reserves, to cover the benefits that may become exigible, less in all cases the debts due to the insurer on the contracts;
(d)  that the assets are insufficient to assure effective protection for the insured;
(e)  that there has been a serious offence, especially malfeasance or breach of trust by one or more members of the board of directors, or that the board has been seriously remiss in the performance of the obligations imposed upon it by this Act or engages in administrative practices which endanger the rights of the insured persons or the members.
The provisional administrator may authorize the persons he designates to exercise such functions as he may determine.
1974, c. 70, s. 378; 1982, c. 52, s. 80; 1985, c. 17, s. 45; 1987, c. 54, s. 21.
378. The Inspector General or, at his request or if he is absent or unable to act, any person designated by the Minister may, following an inspection made in accordance with this act or the filing of the annual statement of an insurer incorporated under the laws of Québec or pursuant to the request of one hundred members or of shareholders representing 10% in value of the shares, provisionally assume the administration thereof for a period of seven working days if he has reason to believe:
(a)  that the assets have been misappropriated or if he finds that there is an inexplicable deficiency in the assets;
(b)  that the assets are less than the liabilities consisting of losses and current contracts, or are susceptible of becoming less than the liabilities consisting of losses, taking into account the compulsory reserves, less in all cases the debts due to the insurer on those policies;
(c)  that the assets, in the case of a mutual benefit association or any of its funds, are insufficient to cover the benefits actually exigible or will not be sufficient, taking into account the compulsory reserves, to cover the benefits that may become exigible, less in all cases the debts due to the insurer on the contracts;
(d)  that the assets are insufficient to assure effective protection for the insured;
(e)  that there has been a serious offence, especially malfeasance or breach of trust by one or more members of the board of directors, or that the board has been seriously remiss in the performance of the obligations imposed upon it by this act or engages in administrative practices which endanger the rights of the insured persons or the members.
The provisional administrator may authorize the persons he designates to exercise such functions as he may determine.
1974, c. 70, s. 378; 1982, c. 52, s. 80; 1985, c. 17, s. 45.
378. The Inspector General or, at his request or if he is absent or unable to act, any person designated by the Minister may, following an inspection made in accordance with this act or the filing of the annual statement of an insurer incorporated under the laws of Québec or pursuant to the request of one hundred members or of shareholders representing 10% in value of the shares, provisionally assume the administration thereof for a period of seven working days if he has reason to believe:
(a)  that the assets have been misappropriated or if he finds that there is an inexplicable deficiency in the assets;
(b)  that the assets are less than the liabilities consisting of losses and current contracts, or are susceptible of becoming less than the liabilities consisting of losses, taking into account the compulsory reserves, less in all cases the debts due to the insurer on those policies;
(c)  that the assets, in the case of a mutual association or any of its funds, are insufficient to cover the benefits actually exigible or will not be sufficient, taking into account the compulsory reserves, to cover the benefits that may become exigible, less in all cases the debts due to the insurer on the contracts;
(d)  that the assets are insufficient to assure effective protection for the insured;
(e)  that there has been a serious offence, especially malfeasance or breach of trust by one or more members of the board of directors, or that the board has been seriously remiss in the performance of the obligations imposed upon it by this act or engages in administrative practices which endanger the rights of the insured persons or the members.
The provisional administrator may authorize the persons he designates to exercise such functions as he may determine.
1974, c. 70, s. 378; 1982, c. 52, s. 80.
378. The Superintendent or, at his request or if he is absent or unable to act, any person designated by the Minister may, following an inspection made in accordance with this act or the filing of the annual statement of an insurer incorporated under the laws of Québec or pursuant to the request of one hundred members or of shareholders representing 10% in value of the shares, provisionally assume the administration thereof for a period of seven working days if he has reason to believe:
(a)  that the assets have been misappropriated or if he finds that there is an inexplicable deficiency in the assets;
(b)  that the assets are less than the liabilities consisting of losses and current contracts, or are susceptible of becoming less than the liabilities consisting of losses, taking into account the compulsory reserves, less in all cases the debts due to the insurer on those policies;
(c)  that the assets, in the case of a mutual association or any of its funds, are insufficient to cover the benefits actually exigible or will not be sufficient, taking into account the compulsory reserves, to cover the benefits that may become exigible, less in all cases the debts due to the insurer on the contracts;
(d)  that the assets are insufficient to assure effective protection for the insured;
(e)  that there has been a serious offence, especially malfeasance or breach of trust by one or more members of the board of directors, or that the board has been seriously remiss in the performance of the obligations imposed upon it by this act or engages in administrative practices which endanger the rights of the insured persons or the members.
The provisional administrator may authorize the persons he designates to exercise such functions as he may determine.
1974, c. 70, s. 378.
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