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A-32 - Act respecting insurance
Section 93.48
Disposition versions
93.48. The board of directors, if so authorized by a by-law of the mutual insurance association, may issue preferred shares.
The by-law shall provide for the amount of and the preferences, rights and restrictions attached to the shares and the conditions of their redemption or repayment. The interest payable on preferred shares shall be limited by the by-law.
The mutual insurance association shall transmit a copy of the by-law to the Authority.
93.48. The board of directors, if so authorized by a by-law of the mutual insurance association, may issue preferred shares.
The by-law shall provide for the amount of and the preferences, rights and restrictions attached to the shares and the conditions of their redemption or repayment. The interest payable on preferred shares shall be limited by the by-law.
The mutual insurance association shall transmit a copy of the by-law to the Agency.
93.48. The board of directors, if so authorized by a by-law of the mutual insurance association, may issue preferred shares.
The by-law shall provide for the amount of and the preferences, rights and restrictions attached to the shares and the conditions of their redemption or repayment. The interest payable on preferred shares shall be limited by the by-law.
The mutual insurance association shall transmit a copy of the by-law to the Inspector General.
