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A-32 - Act respecting insurance

Section 93.269
Disposition versions

Full text
93.269. (Repealed).
1985, c. 17, s. 6; 1996, c. 63, s. 31, s. 81; 2002, c. 45, s. 221; 2004, c. 37, s. 90; 2008, c. 7, s. 30.
93.269. The Authority, or at its request, any person designated by the Minister may, following an inspection made in accordance with this Act or the filing of any report or statement or pursuant to the request of 1/3 of the members of a guarantee fund, provisionally assume the administration thereof for a period of seven working days if it has reason to believe
(1)  that the assets have been misappropriated or if it finds that there is an inexplicable deficiency in the assets;
(2)  that the assets are insufficient to provide effective protection of the members;
(3)  that the capital has been broken into otherwise than in the case of the winding-up or dissolution of a member;
(4)  that there has been a grievous offence, especially malfeasance or breach of trust by one or more directors, or that the board has been seriously remiss in the performance of the obligations imposed on it by this Act or engages in management practices which endanger the rights of the members.
The provisional administrator may authorize the persons he designates to exercise such duties as he may determine.
1985, c. 17, s. 6; 1996, c. 63, s. 31, s. 81; 2002, c. 45, s. 221; 2004, c. 37, s. 90.
93.269. The Agency, or at its request, any person designated by the Minister may, following an inspection made in accordance with this Act or the filing of any report or statement or pursuant to the request of one-third of the members of a guarantee fund, provisionally assume the administration thereof for a period of seven working days if it has reason to believe
(1)  that the assets have been misappropriated or if it finds that there is an inexplicable deficiency in the assets;
(2)  that the assets are insufficient to provide effective protection of the members;
(3)  that the capital has been broken into otherwise than in the case of the winding-up or dissolution of a member;
(4)  that there has been a grievous offence, especially malfeasance or breach of trust by one or more directors, or that the board has been seriously remiss in the performance of the obligations imposed on it by this Act or engages in management practices which endanger the rights of the members.
The provisional administrator may authorize the persons he designates to exercise such duties as he may determine.
1985, c. 17, s. 6; 1996, c. 63, s. 31, s. 81; 2002, c. 45, s. 221.
93.269. The Inspector General or, if he is absent or unable to act, or at his request, any person designated by the Minister may, following an inspection made in accordance with this Act or the filing of any report or statement or pursuant to the request of one-third of the members of a guarantee fund, provisionally assume the administration thereof for a period of seven working days if he has reason to believe
(1)  that the assets have been misappropriated or if he finds that there is an inexplicable deficiency in the assets;
(2)  that the assets are insufficient to provide effective protection of the members;
(3)  that the capital has been broken into otherwise than in the case of the winding-up or dissolution of a member;
(4)  that there has been a grievous offence, especially malfeasance or breach of trust by one or more directors, or that the board has been seriously remiss in the performance of the obligations imposed on it by this Act or engages in management practices which endanger the rights of the members.
The provisional administrator may authorize the persons he designates to exercise such duties as he may determine.
1985, c. 17, s. 6; 1996, c. 63, s. 31, s. 81; 2002, c. 45, s. 221.
93.269. The Inspector General or, if he is absent or unable to act, or at his request, any person designated by the Minister may, following an inspection made in accordance with this Act or the filing of any report or statement or pursuant to the request of one-third of the members of a guarantee fund, provisionally assume the administration thereof for a period of seven working days if he has reason to believe
(1)  that the assets have been misappropriated or if he finds that there is an inexplicable deficiency in the assets;
(2)  that the assets are insufficient to provide effective protection of the members;
(3)  that the capital has been broken into otherwise than in the case of the winding-up or dissolution of a member;
(4)  that there has been a grievous offence, especially malfeasance or breach of trust by one or more directors, or that the board has been seriously remiss in the performance of the obligations imposed on it by this Act or engages in administrative practices which endanger the rights of the members.
The provisional administrator may authorize the persons he designates to exercise such duties as he may determine.
1985, c. 17, s. 6; 1996, c. 63, s. 31, s. 81.
93.269. The Inspector General or, at his request or if he is absent or unable to act, any person designated by the Minister may, following an inspection made in accordance with this Act or the filing of any report or statement or pursuant to the request of one-third of the members of a corporation, provisionally assume the administration thereof for a period of seven working days if he has reason to believe
(1)  that the assets have been misappropriated or if he finds that there is an inexplicable deficiency in the assets;
(2)  that the assets are insufficient to provide effective protection of the members;
(3)  that the capital has been broken into otherwise than in the case of the winding-up or dissolution of a member;
(4)  that there has been a grievous offence, especially malfeasance or breach of trust by one or more directors, or that the board has been seriously remiss in the performance of the obligations imposed on it by this Act or engages in administrative practices which endanger the rights of the members.
The provisional administrator may authorize the persons he designates to exercise such duties as he may determine.
1985, c. 17, s. 6.
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