A-32 - Act respecting insurance

Section 404 Disposition versions

1996-12-23

404. The following claims shall have, by preference over the other creditors, priority in the following order:

(a)  costs and fees of winding-up;

(b)  salaries and wages of the employees of the legal person other than a professional order, up to three months of unpaid salary;

(c)  claims based on the occurrence, before the date of the winding-up, of a risk assumed by the legal person;

(d)  the claims of insured persons for recovery of the value of their policies or for a refund of the premiums paid with respect to risks which have ceased to be insured following the winding-up and sums paid into the pension plan of the employees of a legal person other than a professional order.

1974, c. 70, s. 404; 1984, c. 22, s. 76; 1987, c. 54, s. 29; 1994, c. 40, s. 457; 1996, c. 63, s. 80.

1994-10-15

404. The following claims shall have, by preference over the other creditors, priority in the following order:

(a)  costs and fees of winding-up;

(b)  salaries and wages of the employees of the corporation other than a professional order, up to three months of unpaid salary;

(c)  claims based on the occurrence, before the date of the winding-up, of a risk assumed by the corporation;

(d)  the claims of insured persons for recovery of the value of their policies or for a refund of the premiums paid with respect to risks which have ceased to be insured following the winding-up and sums paid into the pension plan of the employees of a corporation other than a professional order.

1974, c. 70, s. 404; 1984, c. 22, s. 76; 1987, c. 54, s. 29; 1994, c. 40, s. 457.

1987-06-23

404. The following claims shall have, by preference over the other creditors, priority in the following order:

(a)  costs and fees of winding-up;

(b)  salaries and wages of the employees of the corporation other than a professional corporation, up to three months of unpaid salary;

(c)  claims based on the occurrence, before the date of the winding-up, of a risk assumed by the corporation;

(d)  the claims of insured persons for recovery of the value of their policies or for a refund of the premiums paid with respect to risks which have ceased to be insured following the winding-up and sums paid into the pension plan of the employees of a corporation other than a professional corporation.

1974, c. 70, s. 404; 1984, c. 22, s. 76; 1987, c. 54, s. 29.

1984-06-20

404. The following claims shall have, by preference over the other creditors, priority in the following order:

(a)  costs and fees of winding-up;

(b)  salaries and wages of the employees of the corporation, up to three months of unpaid salary;

(c)  claims based on the occurrence, before the date of the winding-up, of a risk assumed by the corporation;

(d)  the claims of insured persons for recovery of the value of their policies or for a refund of the premiums paid with respect to risks which have ceased to be insured following the winding-up and sums paid into the employees pension plan.

1974, c. 70, s. 404; 1984, c. 22, s. 76.

1977-12-31

404. The following claims shall have, by preference over the other creditors, priority in the following order:

(a)  costs and fees of winding-up;

(b)  salaries and wages of the employees of the corporation, up to three months of unpaid salary;

(c)  claims based on the occurrence, before the date of the winding-up, of a risk assumed by the corporation;

(d)  the claims of insured persons for recovery of the value of their policies or for a refund of the premiums paid with respect to risks which have ceased to be insured following the winding-up.

1974, c. 70, s. 404.