15. The council may make any by-law necessary for the proper working of the company, and in particular to determine the conditions on which a building shall become insured, when and in what manner a building which is insured may cease to be insured, and in what manner a member of the company may transfer his interest in the company, and generally all other by-laws not inconsistent with this division.
The council may also, by by-law, order the issuing of an insurance certificate, provided, however, that all the by-laws of the company in force at the date of its issue be inserted at full length in such certificate.
R. S. 1964, c. 295, s. 54; 1974, c. 70, s. 432.