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A-25 - Automobile Insurance Act

Section 167
Disposition versions

Full text
167. A development fund is created at the Groupement. Each authorized insurer must contribute an amount fixed by the Groupement; however, such amount shall not be less than $10,000.
The Groupement may annually pay interest to the authorized insurers on these contributions, out of its operating surplus.
The Groupement, by by-law, shall determine the terms and conditions of reimbursement, to insurers ceasing to be authorized to transact automobile insurance in Québec, of their contributions to the development fund.
1977, c. 68, s. 167; 1989, c. 47, s. 5.
167. A development fund is created at the Corporation. Each authorized insurer must contribute an amount fixed by the Corporation; however, such amount shall not be less than $10 000.
The Corporation may annually pay interest to the authorized insurers on these contributions, out of its operating surplus.
The Corporation, by by-law, shall determine the terms and conditions of reimbursement, to insurers ceasing to be authorized to transact automobile insurance in Québec, of their contributions to the development fund.
1977, c. 68, s. 167.
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