R-17.0.1, r. 1 - Regulation respecting applications for authorization and liability insurance coverage for administrators of voluntary retirement savings plans

Section 2 Disposition versions

2014-04-16

2. A legal person’s excess amount of assets over liabilities which must be specified in the attestation referred to in subparagraph 2 of the second paragraph of section 28 of the Voluntary Retirement Savings Plans Act (chapter R-17.0.1) must be at least $1,000,000.

If this amount is less than $1,000,000, the amount of the irrevocable letter of credit or suretyship, or the sum of both, must be at least equal to the difference between the legal person’s excess amount of assets over liabilities and $1,000,000.

M.O. 2014-02, s. 2.