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A-32 - Act respecting insurance

Section 93.248
Disposition versions

Full text
93.248. A guarantee fund may acquire and hold bonds or other evidences of indebtedness issued by a legal person constituted in Canada and carrying on business in Québec
(1)  if they are secured by first hypothec on landed property or equipment or by hypothec on evidences of indebtedness admissible as investments under this division;
(2)  if they are secured by first hypothec on equipment and if the legal person has paid in full the interest on its other debts during the 10 years preceding the acquisition; or
(3)  if the common shares of the legal person are listed on a recognized Canadian Stock Exchange and if the legal person, during each of the five years preceding the acquisition, has earned and paid on its common shares a dividend at least equal to 4% of their book value.
1985, c. 17, s. 6; 1992, c. 57, s. 439; 1996, c. 63, s. 80, s. 81; 1999, c. 40, s. 33.
93.248. A guarantee fund may acquire and hold bonds or other evidences of indebtedness issued by a legal person incorporated in Canada and carrying on business in Québec
(1)  if they are secured by first hypothec on real estate or equipment or by hypothec on evidences of indebtedness admissible as investments under this division;
(2)  if they are secured by first hypothec on equipment and if the legal person has paid in full the interest on its other debts during the 10 years preceding the acquisition; or
(3)  if the common shares of the legal person are listed on a recognized Canadian Stock Exchange and if the legal person, during each of the five years preceding the acquisition, has earned and paid on its common shares a dividend at least equal to 4 % of their book value.
1985, c. 17, s. 6; 1992, c. 57, s. 439; 1996, c. 63, s. 80, s. 81.
93.248. A corporation may acquire and hold bonds or other evidences of indebtedness issued by a corporation incorporated in Canada and carrying on business in Québec
(1)  if they are secured by first hypothec on real estate or equipment or by hypothec on evidences of indebtedness admissible as investments under this division;
(2)  if they are secured by first hypothec on equipment and if the corporation has paid in full the interest on its other debts during the 10 years preceding the acquisition; or
(3)  if the common shares of the corporation are listed on a recognized Canadian Stock Exchange and if the corporation, during each of the five years preceding the acquisition, has earned and paid on its common shares a dividend at least equal to 4 % of their book value.
1985, c. 17, s. 6; 1992, c. 57, s. 439.
93.248. A corporation may acquire and hold bonds or other evidences of indebtedness issued by a corporation incorporated in Canada and carrying on business in Québec
(1)  if they are secured by privilege or first hypothec on real estate or equipment or by pledge of evidences of indebtedness admissible as investments under this division;
(2)  if they are secured by first privilege on equipment and if the corporation has paid in full the interest on its other debts during the ten years preceding the acquisition; or
(3)  if the common shares of the corporation are listed on a recognized Canadian Stock Exchange and if the corporation, during each of the five years preceding the acquisition, has earned and paid on its common shares a dividend at least equal to 4% of their book value.
1985, c. 17, s. 6.
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