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A-32 - Act respecting insurance

Section 298.2.1
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Full text
298.2.1. The auditing committee shall verify that each insurer adheres to sound and prudent management practices.
The auditing committee shall notify the board of directors in writing on becoming aware of management practices that may adversely affect the financial position of the insurer.
In addition, if it considers that the board of directors has failed to take appropriate and timely measures to remedy the situation identified in the notice, the auditing committee shall so inform the Authority.
2002, c. 70, s. 123; 2004, c. 37, s. 90.
298.2.1. The auditing committee shall verify that each insurer adheres to sound and prudent management practices.
The auditing committee shall notify the board of directors in writing on becoming aware of management practices that may adversely affect the financial position of the insurer.
In addition, if it considers that the board of directors has failed to take appropriate and timely measures to remedy the situation identified in the notice, the auditing committee shall so inform the Agency.
2002, c. 70, s. 123.
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