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

Section 290.3 Disposition versions

2013-06-14

290.3. The eligibility requirements shall be set out in the Chamber’s internal management by-law.

In the case of the Chambre de la sécurité financière, the elected board members must include the following persons:

(1)  two representatives in insurance of persons;

(2)  two mutual fund dealer representatives;

(3)  one group insurance representative;

(4)  one scholarship plan dealer representative; and

(5)  one financial planner.

In the case of the Chambre de l’assurance de dommages, the elected board members must include officers of insurers or firms from each of the following groups:

(1)  insurers that distribute their products mainly through damage insurance agents;

(2)  firms, other than insurers, that are registered for the damage insurance sector and pursue their activities through damage insurance brokers;

(3)  insurers that distribute their products mainly through damage insurance brokers; and

(4)  firms, other than insurers, that are registered for the claims adjustment sector.

The number of officers of insurers who are elected as board members under subparagraph 1 of the third paragraph by agents referred to in that subparagraph must be in the same proportion to all elected board members as those agents are to the Chamber’s total membership.

The number of officers of firms who are elected as board members under subparagraph 2 of the third paragraph by brokers referred to in that subparagraph must be in the same proportion to all elected board members as those brokers are to the Chamber’s total membership. At least one of those board members must be an officer of a firm comprising 15 or fewer brokers.

The number of officers of insurers or firms from those referred to in subparagraphs 3 and 4 of the third paragraph who are elected as board members by claims adjusters must be in the same proportion to all elected board members as claims adjusters are to the Chamber’s total membership.

All elected board members must hold a certificate in the damage insurance or claims adjustment sector, except one board member out of those elected under subparagraph 1 of the third paragraph, who may not be an officer holding such a certificate.

2011, c. 26, s. 25; 2013, c. 18, s. 56.

2011-11-30

290.3. The eligibility requirements shall be set out in the Chamber’s internal management by-law.

In the case of the Chambre de l’assurance de dommages, the elected board members must include officers of insurers or firms from each of the following groups:

(1)  insurers that distribute their products mainly through damage insurance agents;

(2)  firms, other than insurers, that are registered for the damage insurance sector and pursue their activities through damage insurance brokers;

(3)  insurers that distribute their products mainly through damage insurance brokers; and

(4)  firms, other than insurers, that are registered for the claims adjustment sector.

The number of officers of insurers who are elected as board members under subparagraph 1 of the second paragraph by agents referred to in that subparagraph must be in the same proportion to all elected board members as those agents are to the Chamber’s total membership.

The number of officers of firms who are elected as board members under subparagraph 2 of the second paragraph by brokers referred to in that subparagraph must be in the same proportion to all elected board members as those brokers are to the Chamber’s total membership. At least one of those board members must be an officer of a firm comprising 15 or fewer brokers.

The number of officers of insurers or firms from those referred to in subparagraphs 3 and 4 of the second paragraph who are elected as board members by claims adjusters must be in the same proportion to all elected board members as claims adjusters are to the Chamber’s total membership.

All elected board members must hold a certificate in the damage insurance or claims adjustment sector, except one board member out of those elected under subparagraph 1 of the second paragraph, who may not be an officer holding such a certificate.

2011, c. 26, s. 25.