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C-19 - Cities and Towns Act

Section 573.1.2
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573.1.2. An insurance contract awarded by tender for a period of less than five years may, upon termination, be renewed without calling for tenders for one or several terms which, added to the initial term, must in no case exceed five years. Premiums may, after the initial term, be modified for the duration of a new term.
1992, c. 27, s. 28; 1996, c. 27, s. 37.
573.1.2. An insurance contract awarded by tender for a period of less than three years may, upon termination, be renewed without calling for tenders for one or several terms which, added to the initial term, must in no case exceed three years. Premiums may, after the initial term, be modified for the duration of a new term.
1992, c. 27, s. 28.
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