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A-32 - Act respecting insurance
Section 251
Disposition versions
251. (Repealed).
251. Any insurer may acquire and hold:
(a) guaranteed investment certificates issued by any trust company authorized to do business in Québec if the common or preferred shares of that trust company are of such nature as to constitute for the insurer an investment complying with the prescriptions of section 247 or subsection 1 of section 248;
(b) bonds or other securities issued by any loan society incorporated by an act of the Legislature or authorized to do business in Québec under the Loan and Investment Societies Act (chapter S-30), which has been specially approved by the Government for the application of this paragraph and the ordinary operations of which in Québec are to make loans to municipal or school corporations and fabriques or loans secured by first privilege or first hypothec on real estate situated in Québec;
(c) securities issued by any savings and credit union incorporated under the Savings and Credit Unions Act (chapter C-4) and registered within the meaning of the Deposit Insurance Act (chapter A-26).
