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A-32 - Act respecting insurance

Section 392
Disposition versions

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392. Subject to this Act, Divisions II and III of the Winding-up Act (chapter L-4) apply to the winding-up of a mutual association or insurance fund.
For such purpose the word “company”, in the said Act, means a mutual association or an insurance fund, the word “shareholder” means any member of the mutual association or any insured member of the professional order and where a provision of the said Act requires the vote of the shareholders, representing a specified proportion of the capital stock of a company, that provision is considered to require the vote of a number of the members of the mutual association or of insured members of the professional order equal to the specified proportion of the value.
1974, c. 70, s. 392; 1987, c. 54, s. 23; 1994, c. 40, s. 457; 1999, c. 40, s. 33.
392. Subject to this Act, Divisions II and III of the Winding-up Act (chapter L-4) apply to the winding-up of a mutual association or insurance fund.
For such purpose the word “company”, in the said Act, means a mutual association or an insurance fund, the word “shareholder” means any member of the mutual association or any insured member of the professional order and where a provision of the said Act requires the vote of the shareholders, representing a specified proportion of the capital stock of a company, that provision is deemed to require the vote of a number of the members of the mutual association or of insured members of the professional order equal to the specified proportion of the value.
1974, c. 70, s. 392; 1987, c. 54, s. 23; 1994, c. 40, s. 457.
392. Subject to this Act, Divisions II and III of the Winding-up Act (chapter L-4) apply to the winding-up of a mutual association or insurance fund.
For such purpose the word “company”, in the said Act, means a mutual association or an insurance fund, the word “shareholder” means any member of the mutual association or any insured member of the professional corporation and where a provision of the said Act requires the vote of the shareholders, representing a specified proportion of the capital stock of a company, that provision is deemed to require the vote of a number of the members of the mutual association or of insured members of the professional corporation equal to the specified proportion of the value.
1974, c. 70, s. 392; 1987, c. 54, s. 23.
392. Subject to this act, Divisions II and III of the Winding-up Act apply to mutual associations.
For such purpose the word “company”, in the said act, means a mutual corporation or association, the word “shareholder” means any member of that corporation or association and when a provision of the said act requires the vote of the shareholders representing a specified proportion of the capital stock of a company, that provision is deemed to require the vote of a number of the members of the corporation or association equal to the specified proportion of the value.
1974, c. 70, s. 392.
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