D-9.2 - Act respecting the distribution of financial products and services

Section 102 Disposition versions

1999-10-01

102. Any insurance premium paid to a firm or to a representative of a firm for the account of an insurer is deemed to have been paid directly to the insurer.

The obligations of an insurer who pays sums of money to a firm for the account of an insured or the beneficiary of an insured are discharged only when the insured or beneficiary receives the money.

1998, c. 37, s. 102.