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A-32 - Act respecting insurance

Section 93.227
Disposition versions

Full text
93.227. In the case of the winding-up, dissolution, resignation of a member or of its expulsion from the federation to which the guarantee fund is related, the member may apply for the reimbursement of his participation in the capital.
Except in the case of the winding-up or dissolution of a guarantee fund, the reimbursement of the participation of a member in the capital shall correspond to the lesser of the following amounts:
(1)  the total amount paid as participation;
(2)  the amount obtained by multiplying the surplus of the assets of the guarantee fund over its liabilities by the percentage of the participation of the member in the capital.
The application for the reimbursement of a member shall be made by means of a written notice transmitted to the guarantee fund not later than 90 days before the end of the current fiscal year.
No reimbursement may be made before the beginning of the following fiscal year.
1985, c. 17, s. 6; 1996, c. 63, s. 81; 2002, c. 70, s. 57.
93.227. In the case of the winding-up, dissolution, resignation of a member or of its expulsion from the federation to which the guarantee fund is related, the member may apply for the reimbursement of his participation in the capital.
Except in the case of the winding-up or dissolution of a guarantee fund, the reimbursement of the participation of a member in the capital shall correspond to the lesser of the following amounts:
(1)  the total amount paid as participation;
(2)  the amount obtained by multiplying the surplus of the assets of the guarantee fund over its liabilities by the percentage of the participation of the member in the capital.
The application for the reimbursement of a member shall be made by means of a written notice transmitted to the guarantee fund not later than 90 days before 31 December of the current year.
No reimbursement may be made before the following 1 January.
1985, c. 17, s. 6; 1996, c. 63, s. 81.
93.227. In the case of the winding-up, dissolution, resignation of a member or of its expulsion from the federation to which the corporation is related, the member may apply for the reimbursement of his participation in the capital.
Except in the case of the winding-up or dissolution of a corporation, the reimbursement of the participation of a member in the capital shall correspond to the lesser of the following amounts:
(1)  the total amount paid as participation;
(2)  the amount obtained by multiplying the surplus of the assets of the corporation over its liabilities by the percentage of the participation of the member in the capital.
The application for the reimbursement of a member shall be made by means of a written notice transmitted to the corporation not later than 90 days before 31 December of the current year.
No reimbursement may be made before the following 1 January.
1985, c. 17, s. 6.
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