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A-32 - Act respecting insurance

Section 211
Disposition versions

Full text
211. The Authority shall issue the licence if the legal person
(a)  furnishes all required documents and information;
(b)  meets the conditions prescribed under this Act and the regulations thereunder;
(c)  has complied with this Act and any Act of another province or of the Parliament of Canada or any other Act governing the activities of the legal person, and the regulations thereunder;
(d)  adheres to sound and prudent management practices;
(d.1)  adheres to sound commercial practices;
(e)  has sufficient assets;
(f)  has directors and officers who possess the administrative and technical knowledge and competence required to administer the legal person or, where such is the case, its insurance fund in a manner to command public confidence in transacting the classes of insurance contemplated;
(g)  deposits an undertaking made by the holding company directly controlling the legal person and by any holding company controlled by the legal person, enabling the Authority or the representative designated by the Authority to enter, at any reasonable time, the head office of the legal person and its other establishments situated outside Québec and permitting the application of subparagraphs 2 and 3 of the first and second paragraphs of section 10, for the purposes of the inspection of the legal person’s internal affairs and activities;
(h)  causes any holding company controlled by the legal person to furnish all the documents and information enabling the Authority to ensure that the legal person adheres to sound and prudent management practices.
1974, c. 70, s. 211; 1982, c. 52, s. 80; 1984, c. 22, s. 43; 1987, c. 54, s. 5; 1996, c. 63, s. 80; 2002, c. 45, s. 231; 2002, c. 70, s. 90; 2002, c. 45, s. 231; 2004, c. 37, s. 90; 2008, c. 7, s. 32.
211. The Authority shall issue the licence if the legal person
(a)  furnishes all required documents and information;
(b)  meets the conditions prescribed under this Act and the regulations thereunder;
(c)  has complied with this Act and any Act of another province or of the Parliament of Canada or any other Act governing the activities of the legal person, and the regulations thereunder;
(d)  adheres to sound and prudent management practices, in particular those relating to commercial practices;
(e)  has sufficient assets;
(f)  has directors and officers who possess the administrative and technical knowledge and competence required to administer the legal person or, where such is the case, its insurance fund in a manner to command public confidence in transacting the classes of insurance contemplated;
(g)  deposits an undertaking made by the holding company directly controlling the legal person and by any holding company controlled by the legal person, enabling the Authority or the representative designated by the Authority to enter, at any reasonable time, the head office of the legal person and its other establishments situated outside Québec and permitting the application of subparagraphs 2 and 3 of the first and second paragraphs of section 10, for the purposes of the inspection of the legal person’s internal affairs and activities;
(h)  causes any holding company controlled by the legal person to furnish all the documents and information enabling the Authority to ensure that the legal person adheres to sound and prudent management practices.
1974, c. 70, s. 211; 1982, c. 52, s. 80; 1984, c. 22, s. 43; 1987, c. 54, s. 5; 1996, c. 63, s. 80; 2002, c. 45, s. 231; 2002, c. 70, s. 90; 2002, c. 45, s. 231; 2004, c. 37, s. 90.
211. The Agency shall issue the licence if the legal person
(a)  furnishes all required documents and information;
(b)  meets the conditions prescribed under this Act and the regulations thereunder;
(c)  has complied with this Act and any Act of another province or of the Parliament of Canada or any other Act governing the activities of the legal person, and the regulations thereunder;
(d)  adheres to sound and prudent management practices, in particular those relating to commercial practices;
(e)  has sufficient assets;
(f)  has directors and officers who possess the administrative and technical knowledge and competence required to administer the legal person or, where such is the case, its insurance fund in a manner to command public confidence in transacting the classes of insurance contemplated;
(g)  deposits an undertaking made by the holding company directly controlling the legal person and by any holding company controlled by the legal person, enabling the Agency or the representative designated by the Agency to enter, at any reasonable time, the head office of the legal person and its other establishments situated outside Québec and permitting the application of subparagraphs 2 and 3 of the first and second paragraphs of section 10, for the purposes of the inspection of the legal person’s internal affairs and activities;
(h)  causes any holding company controlled by the legal person to furnish all the documents and information enabling the Agency to ensure that the legal person adheres to sound and prudent management practices.
1974, c. 70, s. 211; 1982, c. 52, s. 80; 1984, c. 22, s. 43; 1987, c. 54, s. 5; 1996, c. 63, s. 80; 2002, c. 45, s. 231; 2002, c. 70, s. 90; 2002, c. 45, s. 231.
211. The Inspector General shall issue the licence if the legal person
(a)  furnishes all required documents and information;
(b)  meets the conditions prescribed under this Act and the regulations thereunder;
(c)  has complied with this Act and any Act of another province or of the Parliament of Canada or any other Act governing the activities of the legal person, and the regulations thereunder;
(d)  adheres to sound and prudent management practices, in particular those relating to commercial practices ;
(e)  has sufficient assets;
(f)  has directors and officers who possess the administrative and technical knowledge and competence required to administer the legal person or, where such is the case, its insurance fund in a manner to command public confidence in transacting the classes of insurance contemplated;
(g)  deposits an undertaking made by the holding company directly controlling the legal person and by any holding company controlled by the legal person, enabling the Agency or the representative designated by the Agency to enter, at any reasonable time, the head office of the legal person and its other establishments situated outside Québec and permitting the application of subparagraphs 2 and 3 of the first and second paragraphs of section 10, for the purposes of the inspection of the legal person’s internal affairs and activities;
(h)  causes any holding company controlled by the legal person to furnish all the documents and information enabling the Agency to ensure that the legal person adheres to sound and prudent management practices.
1974, c. 70, s. 211; 1982, c. 52, s. 80; 1984, c. 22, s. 43; 1987, c. 54, s. 5; 1996, c. 63, s. 80; 2002, c. 45, s. 231; 2002, c. 70, s. 90.
211. The Inspector General shall issue the licence if the legal person
(a)  furnishes all required documents and information;
(b)  meets the conditions prescribed under this Act and the regulations thereunder;
(c)  has complied with this Act and any Act of another province or of the Parliament of Canada or any other Act governing the activities of the legal person, and the regulations thereunder;
(d)  adheres to sound and prudent management practices, in particular those relating to commercial practices;
(e)  has sufficient assets;
(f)  has directors and officers who possess the administrative and technical knowledge and competence required to administer the legal person or, where such is the case, its insurance fund in a manner to command public confidence in transacting the classes of insurance contemplated.
1974, c. 70, s. 211; 1982, c. 52, s. 80; 1984, c. 22, s. 43; 1987, c. 54, s. 5; 1996, c. 63, s. 80; 2002, c. 45, s. 231.
211. The Inspector General shall issue the licence if the legal person
(a)  furnishes all required documents and information;
(b)  meets the conditions prescribed under this Act and the regulations thereunder;
(c)  has complied with this Act and any Act of another province or of the Parliament of Canada or any other Act governing the activities of the legal person, and the regulations thereunder;
(d)  adheres to sound commercial and financial practices;
(e)  has sufficient assets;
(f)  has directors and officers who possess the administrative and technical knowledge and competence required to administer the legal person or, where such is the case, its insurance fund in a manner to command public confidence in transacting the classes of insurance contemplated.
1974, c. 70, s. 211; 1982, c. 52, s. 80; 1984, c. 22, s. 43; 1987, c. 54, s. 5; 1996, c. 63, s. 80.
211. The Inspector General shall issue the licence if the corporation
(a)  furnishes all required documents and information;
(b)  meets the conditions prescribed under this Act and the regulations thereunder;
(c)  has complied with this Act and any Act of another province or of the Parliament of Canada or any other Act governing the activities of the corporation, and the regulations thereunder;
(d)  adheres to sound commercial and financial practices;
(e)  has sufficient assets;
(f)  has directors and officers who possess the administrative and technical knowledge and competence required to administer the corporation or, where such is the case, its insurance fund in a manner to command public confidence in transacting the classes of insurance contemplated.
1974, c. 70, s. 211; 1982, c. 52, s. 80; 1984, c. 22, s. 43; 1987, c. 54, s. 5.
211. The Inspector General shall issue the licence if the corporation
(a)  furnishes all required documents and information;
(b)  meets the conditions prescribed under this Act and the regulations thereunder;
(c)  has complied with this Act and any Act of another province or of the Parliament of Canada or any other Act governing the activities of the corporation, and the regulations thereunder;
(d)  adheres to sound commercial and financial practices;
(e)  has sufficient assets;
(f)  has directors and officers who possess the administrative and technical knowledge and competence required to administer the corporation in a manner to command public confidence in transacting the classes of insurance contemplated.
1974, c. 70, s. 211; 1982, c. 52, s. 80; 1984, c. 22, s. 43.
211. On receiving an application for a licence, the Inspector General shall have published in the Gazette officielle du Québec a notice giving the name of the applicant and the nature of its application, indicating the address of its chief establishment.
In such notice, the Inspector General shall invite the public to present at his office, within fifteen days of the publication of the notice, any possible objection to the issuing of the licence.
1974, c. 70, s. 211; 1982, c. 52, s. 80.
211. On receiving an application for a licence, the Superintendent shall have published in the Gazette officielle du Québec a notice giving the name of the applicant and the nature of its application, indicating the address of its chief establishment.
In such notice, the Superintendent shall invite the public to present at his office, within fifteen days of the publication of the notice, any possible objection to the issuing of the licence.
1974, c. 70, s. 211.
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