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A-32 - Act respecting insurance

Section 27
Disposition versions

Full text
27. The paid-up capital combined, where applicable, with the contributed surplus of an insurance company must be at least $3,000,000.
A government regulation, applicable to insurance companies constituted after 11 February 2003 or after any later date indicated in the regulation, may however prescribe a different amount.
1974, c. 70, s. 27; 1984, c. 22, s. 8; 1999, c. 40, s. 33; 2002, c. 70, s. 9.
27. Companies constituted after 20 June 1984 shall have a combined paid-up capital and surplus capital of not less than $3 000 000.
1974, c. 70, s. 27; 1984, c. 22, s. 8; 1999, c. 40, s. 33.
27. Companies incorporated after 20 June 1984 shall have a combined paid-up capital and surplus capital of not less than $3 000 000.
1974, c. 70, s. 27; 1984, c. 22, s. 8.
27. In the case of companies incorporated after 20 October 1976 to transact damage insurance, the combined amount of the paid-up capital and the capital surplus shall not be less than $1,500,000, the paid-up capital being not less than $750,000 and the surplus capital not less than $250,000.
1974, c. 70, s. 27.
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