C-74 - Insurance Brokers Act

Section 32 Disposition versions

1983-04-01

32. Paragraph a of section 30 shall not apply

(1)  to a practising notary;

(2)  to any person entitled to become a member of the Association under paragraph c of section 9 so long as he retains such right;

(3)  to a corporation having its corporate seat or a permanent business office in Québec and the majority of whose shares carrying the right to vote in all circumstances are the property of one or more persons each of whom is either a member in good standing of the Association, or the estate, consort or a child of a member of the Association who has been dead for less than five years, which delay may in certain cases be extended by the Inspector General of Financial Institutions, and was a member in good standing at the time of his death, provided that the person or persons effectively managing the affairs of the corporation are members in good standing of the Association;

(4)  to a corporation which has its corporate seat or a permanent business office in Québec, has never been a corporation to which paragraph 3 applies, was legally carrying on business in Québec as an insurance broker on the 11th of July 1963 and has not subsequently ceased for a period of more than thirty days to hold an insurance agent’s licence or certificate.

R. S. 1964, c. 268, s. 32; 1982, c. 52, s. 193, s. 195.

1977-12-31

32. Paragraph a of section 30 shall not apply

(1)  to a practising notary;

(2)  to any person entitled to become a member of the Association under paragraph c of section 9 so long as he retains such right;

(3)  to a corporation having its corporate seat or a permanent business office in Québec and the majority of whose shares carrying the right to vote in all circumstances are the property of one or more persons each of whom is either a member in good standing of the Association, or the estate, consort or a child of a member of the Association who has been dead for less than five years, which delay may in certain cases be extended by the Superintendent of Insurance, and was a member in good standing at the time of his death, provided that the person or persons effectively managing the affairs of the corporation are members in good standing of the Association;

(4)  to a corporation which has its corporate seat or a permanent business office in Québec, has never been a corporation to which paragraph 3 applies, was legally carrying on business in Québec as an insurance broker on the 11th of July 1963 and has not subsequently ceased for a period of more than thirty days to hold an insurance agent’s license.

R. S. 1964, c. 268, s. 32.