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A-32 - Act respecting insurance

Section 285.7
Disposition versions

Full text
285.7. Every director who resigns for reasons relating to the conduct of the affairs of the insurer shall declare his reasons to the insurer and to the Authority,
(1)  where he has grounds to believe that such conduct is contrary to a provision of this Act or the regulations, a provision of any other Act, an order of the Authority or the Criminal Code (Revised Statutes of Canada, 1985, chapter C-46);
(2)  where he has grounds to believe that such conduct may have an adverse effect on the financial position of the insurer.
A director who makes such a declaration in good faith shall not incur any civil liability by doing so.
1990, c. 86, s. 39; 2002, c. 45, s. 243; 2004, c. 37, s. 90.
285.7. Every director who resigns for reasons relating to the conduct of the affairs of the insurer shall declare his reasons to the insurer and to the Agency,
(1)  where he has grounds to believe that such conduct is contrary to a provision of this Act or the regulations, a provision of any other Act, an order of the Agency or the Criminal Code (Revised Statutes of Canada, 1985, chapter C-46);
(2)  where he has grounds to believe that such conduct may have an adverse effect on the financial position of the insurer.
A director who makes such a declaration in good faith shall not incur any civil liability by doing so.
1990, c. 86, s. 39; 2002, c. 45, s. 243.
285.7. Every director who resigns for reasons relating to the conduct of the affairs of the insurer shall declare his reasons to the insurer and to the Inspector General,
(1)  where he has grounds to believe that such conduct is contrary to a provision of this Act or the regulations, a provision of any other Act, an order of the Inspector General or the Criminal Code (Revised Statutes of Canada, 1985, chapter C-46);
(2)  where he has grounds to believe that such conduct may have an adverse effect on the financial position of the insurer.
A director who makes such a declaration in good faith shall not incur any civil liability by doing so.
1990, c. 86, s. 39.
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