I-3 - Taxation Act

Section 1171 Disposition versions

2006-03-01

1171. (1)  The Minister shall be informed of every insurance contract affecting property situated in Québec and made after 1 September 1947 with an insurance corporation that is not resident in Canada and has no office therein. Every person and officer, agent or employee of such person having knowledge of the facts, shall within 30 days notify the Minister in writing, under oath, of the amount of that insurance and of the amount of premiums which would have been required for such insurance had it been placed with an insurance corporation having an office or place of business in Québec.

(2)  The person contemplated in subsection 1 shall, upon filing the notice mentioned therein, pay to the Minister the amount which he would be entitled to receive from a corporation having an office or place of business in Québec had that insurance been placed with such corporation. When such insurance is effected directly by the possessor of the property, the notice shall be sent and the tax paid by him; when it is effected through an agent or broker, the notice shall be sent and the tax paid by that agent or broker.

1972, c. 23, s. 881; 1996, c. 39, s. 272; 1997, c. 3, s. 71; 1997, c. 85, s. 322.