CCQ, r. 2.1 - Regulation respecting categories of insurance contracts and classes of insureds that may derogate from the rules of articles 2500 and 2503 of the Civil Code

Section 2 Disposition versions

2022-05-05

2. In any civil liability insurance contract, an insured that is not referred to in section 1 but meets one of the following conditions at the time of subscription may be covered by a contract that departs from the rules set out in article 2500 and the first and second paragraphs of article 2503 of the Civil Code where the total coverage under all the civil liability insurance contracts subscribed by that insured is at least $5,000,000:

(1)  the insured is considered to be a large business for the purposes of the Act respecting the Québec sales tax (chapter T-0.1) or is a person related to a large business within the meaning of the Taxation Act (chapter I-3);

(2)  the insured is a reporting issuer or a subsidiary of such a reporting issuer within the meaning of the Securities Act (chapter V-1.1);

(3)  the insured is a foreign business corporation within the meaning of the Taxation Act (chapter I-3) or the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.));

(4)  the insured is a director, officer or trustee of any entity referred to in any of paragraphs 1 to 3, even one not insured under such a contract.

O.C. 656-2022, s. 2.

Not in force

In force: 2022-05-05

2. In any civil liability insurance contract, an insured that is not referred to in section 1 but meets one of the following conditions at the time of subscription may be covered by a contract that departs from the rules set out in article 2500 and the first and second paragraphs of article 2503 of the Civil Code where the total coverage under all the civil liability insurance contracts subscribed by that insured is at least $5,000,000:

(1)  the insured is considered to be a large business for the purposes of the Act respecting the Québec sales tax (chapter T-0.1) or is a person related to a large business within the meaning of the Taxation Act (chapter I-3);

(2)  the insured is a reporting issuer or a subsidiary of such a reporting issuer within the meaning of the Securities Act (chapter V-1.1);

(3)  the insured is a foreign business corporation within the meaning of the Taxation Act (chapter I-3) or the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.));

(4)  the insured is a director, officer or trustee of any entity referred to in any of paragraphs 1 to 3, even one not insured under such a contract.

O.C. 656-2022, s. 2.