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A-32 - Act respecting insurance

Section 66.1
Disposition versions

Full text
66.1. An insurance company that issues participating policies must establish a policy for determining the dividend and the bonuses payable to the holders of such policies. The policy must be approved by the board of directors.
The company may distribute any form of benefit to such policyholders, including a dividend or a bonus, in compliance with the policy established in that regard.
In so doing, the company must take into account the opinion of the actuary designated in accordance with Division III.1 of Chapter IV of Title IV, set out in a report to the board of directors, on the compliance of the distribution with the policy established in that regard.
2002, c. 70, s. 38; 2013, c. 18, s. 2.
66.1. An insurance company that issues participating policies must establish a policy for determining the dividend and the bonuses payable to the holders of such policies.
The company may distribute any form of benefit to such policyholders, including a dividend or a bonus, in compliance with the policy established in that regard.
In so doing, the company must take into account the opinion of its actuary, set out in a report to the board of directors, on the compliance of the distribution with the policy established in that regard.
2002, c. 70, s. 38.
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