17. A guarantee of insurance is a document signed by an authorized insurer establishing the existence of a liability insurance policy in favour of a named insured, describing, if necessary, any automobile concerned and promising that the policy will remain in force indefinitely unless written notice is given at least ten days in advance to the director.
Such document shall be conclusive proof of a liability insurance policy against all damage contemplated in section 3 and sustained by a person other than those contemplated in paragraphs b to e of section 36.
R. S. 1964, c. 232, s. 17.