A-32 - Act respecting insurance

Section 228 Disposition versions

1985-09-11

228. (Repealed).

1974, c. 70, s. 228; 1979, c. 33, s. 9; 1985, c. 17, s. 31.

1979-06-22

228. For a mutual fire insurance association or a mutual company of insurance against fire, lightning and wind the amount of the deposit shall be equal to 10 per cent of the assessments collected by the insurer in Québec during the preceding year, less the premiums paid by the insurer for reinsurance. The deposit shall not however be less than $10 000 in the case of a mutual fire insurance association, or less than $5 000 in the case of a mutual insurance company; it shall not exceed $50 000 in the case of a mutual fire insurance association or $10 000 in the case of a mutual company of insurance against fire, lightning and wind.

For every class of insurance contemplated in section 146 that relates to mercantile and industrial risks, the association or company must post an additional deposit of $10 000.

1974, c. 70, s. 228; 1979, c. 33, s. 9.

1977-12-31

228. For a mutual fire insurance association or a mutual company of insurance against fire, lightning and wind the amount of the deposit shall be equal to 10 per cent of the assessments collected by the insurer in Québec during the preceding year, less the premiums paid by the insurer for reinsurance. The deposit shall not however be less than $10,000 in the case of a mutual fire insurance association, or less than $5,000 in the case of a mutual insurance company; it shall not exceed $50,000 in the case of a mutual fire insurance association or $10,000 in the case of a mutual company of insurance against fire, lightning and wind.

For every class of insurance contemplated in section 146 that relates to risks other than farm risks, the association or company shall offer an additional deposit of $10,000.

1974, c. 70, s. 228.