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A-32 - Act respecting insurance

Section 298.1
Disposition versions

Full text
298.1. Every insurer shall form an auditing committee within its board of directors.
The committee shall examine every financial statement before it is submitted to the board of directors.
The auditing committee may be convened by one of its members or by the auditor. The auditor shall be notified of any meeting of the committee and he shall attend any meeting to which he is convened. The committee shall give him an opportunity to be heard.
The committee shall cause any error or inaccurate information in a financial statement to be corrected and inform the general meeting thereof.
1984, c. 22, s. 67; 1990, c. 86, s. 43.
298.1. Every insurer shall form an auditing committee within its board of directors. The committee shall be composed of not less than three directors, the majority of whom are not officers.
The committee shall examine every financial statement before it is submitted to the board of directors.
The auditing committee may be convened by one of its members or by the auditor. The auditor shall be notified of any meeting of the committee and he shall attend any meeting to which he is convened. The committee shall give him an opportunity to be heard.
The committee shall cause any error or inaccurate information in a financial statement to be corrected and inform the general meeting thereof.
1984, c. 22, s. 67.
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