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A-32 - Act respecting insurance

Section 35.3
Disposition versions

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35.3. Where it relates to a mutual insurance company, the word “shareholder” used in this Act, in Part II of the Companies Act (chapter C-38) or in the Business Corporations Act (chapter S-31.1) means “member”. In addition, where a provision of one of those Acts requires the vote of shareholders representing a fixed proportion of the capital stock of a company, the provision is considered to require the vote of a number of members equal to the proportion determined in value.
2002, c. 70, s. 17; 2009, c. 52, s. 505.
35.3. Where it relates to a mutual insurance company, the word “shareholder” used in this Act or Part I, IA or II of the Companies Act (chapter C‐38) means “member”. In addition, where a provision of one of those Acts requires the vote of shareholders representing a fixed proportion of the capital stock of a company, the provision is considered to require the vote of a number of members equal to the proportion determined in value.
2002, c. 70, s. 17.
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