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A-32 - Act respecting insurance

Section 66.1.1
Disposition versions

Full text
66.1.1. No insurance company that issues participating policies may make a transfer from its participating fund to a surplus account or a retained earnings account unless it has established a participating fund surplus management policy approved by the board of directors.
The policy must provide a method for calculating the surplus to be maintained in the participating fund, including for the purpose of guaranteeing the performance of the company’s obligations toward participating policy holders.
The policy must be presented to a general meeting.
2013, c. 18, s. 3.
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