203. No insurer shall transact both damage insurance and insurance of persons unless it was incorporated before 22 June 1979 and was then authorized to do so by its charter.
However, companies authorized to transact damage insurance may also, to the extent provided for by the regulations, transact insurance of persons when it is related to contracts of damage insurance.
1974, c. 70, s. 203; 1979, c. 33, s. 8.