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A-32 - Act respecting insurance
Section 344
Disposition versions
344. (Repealed).
344. A creditor who requires insurance in connection with a contract shall not impose an insurer or insurance agent on the debtor nor be accorded by him the choice of an insurer or agent except where a creditor takes out group life insurance on his debtors by a master contract or where a financial undertaking does likewise in respect of its depositors or investors.
Subject to the first paragraph, the debtor is free to obtain the insurance through the insurer and the agent of his choice notwithstanding any agreement or stipulation in that regard.
This section does not apply in the case of the construction of a new dwelling within the meaning of the Family Housing Act (chapter H-1), when the hypothecary loan exceeds fifty per cent of the construction cost.
