E-6.1 - Act respecting the regulation of the financial sector

Section 19.12 Disposition versions

2019-06-13

19.12. The liquidator of a federation of mutual companies must, within 10 days after the decision of the Court ordering the winding-up of the federation, notify the federation’s member companies.

2008, c. 7, s. 5; 2010, c. 7, s. 192; 2010, c. 40, s. 92; 2018, c. 23, s. 613.

2011-02-14

19.12. In the case of an insurance company within the meaning of the Act respecting insurance (chapter A-32), any decision of the Superior Court ordering its winding-up must be made public by means of a notice in the Gazette officielle du Québec. Chapter XI of Title IV of that Act applies to the winding-up.

Within 10 days after a decision ordering the winding-up of a federation or a guarantee fund within the meaning of that Act is rendered by the Court, the liquidator shall notify the members of the federation and the guarantee fund related to it.

The notice provided for in the first paragraph must be sent to the enterprise registrar, who shall deposit it in the enterprise register kept under Chapter II of the Act respecting the legal publicity of enterprises (chapter P-44.1). The decision of the Court to wind up a federation takes effect 60 days after the deposit of the notice in the register

The winding-up of a federation entails that of its investment fund and of the guarantee fund related to the federation, and, inversely, the winding-up of a guarantee fund entails that of the federation to which it is related and of the federation’s investment fund.

The liquidator of the federation shall also assume the winding-up of the investment fund and of the guarantee fund according to the same rules. Likewise, the liquidator of a guarantee fund shall also assume the winding-up of the federation related to the guarantee fund and of the federation’s investment fund according to the same rules.

2008, c. 7, s. 5; 2010, c. 7, s. 192; 2010, c. 40, s. 92.

2008-05-28

19.12. In the case of an insurance company within the meaning of the Act respecting insurance (chapter A-32), any decision of the Superior Court ordering its winding-up must be made public by means of a notice in the Gazette officielle du Québec. Chapter XI of Title IV of that Act applies to the winding-up.

Within 10 days after a decision ordering the winding-up of a federation or a guarantee fund within the meaning of that Act is rendered by the Court, the liquidator shall notify the members of the federation and the guarantee fund related to it.

The decision of the Court to wind up a federation takes effect 60 days after the notice provided for in the first paragraph is filed in the register of sole proprietorships, partnerships and legal persons instituted by section 58 of the Act respecting the legal publicity of sole proprietorships, partnerships and legal persons (chapter P-45).

The winding-up of a federation entails that of its investment fund and of the guarantee fund related to the federation, and, inversely, the winding-up of a guarantee fund entails that of the federation to which it is related and of the federation’s investment fund.

The liquidator of the federation shall also assume the winding-up of the investment fund and of the guarantee fund according to the same rules. Likewise, the liquidator of a guarantee fund shall also assume the winding-up of the federation related to the guarantee fund and of the federation’s investment fund according to the same rules.

2008, c. 7, s. 5.