Chapter 1-50

Chapter 1-50

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1907 edition. Excerpt: ...to the company until all its outstanding risks are insured to the satisfaction of the Minister. R.S., c. 124, s. 47. Application for securities. Steps to be taken. Order for release of securities. Further releases. 105. Upon making application for its securities the company shall file with the Minister a list of all Canadian policyholders who have not been so reinsured, or who have not surrendered their policies; and it shall at the same time publish in the Canada Gazette a notice that it has applied to the Minister for the release of its securities on a certain day not less than three months after the date of the notice, and calling upon its Canadian policyholders opposing such release to file their opposition with the Minister on or before the day so named. 2. After that day if the Minister, with the concurrence of the Treasury Board, is satisfied that the company has ample assets to meet its liabilities to Canadian policyholders, he may order that all the securities be released to it, or that a sufficient amount of them be retained to cover the value of all risks outstanding or respecting which opposition has been filed, and that the remainder be released. 3. Thereafter from time to time, as such risks lapse, or proof is adduced that they have been satisfied, further amounts 456 may may be released on the authority aforesaid. 57-58 V., c. 20, s. 14. 106. When a company has ceased to transact business in Payment of Canada after the notice by this Part required has been given, h! and its license has in consequence been withdrawn, such of license, company may, nevertheless, pay the losses arising upon policies not reinsured, or surrendered, as if such license had not been withdrawn. K.S., c. 124, s. 47. Fire Policies. 107. TsTo fire policy shall...show more

Product details

  • Paperback | 360 pages
  • 189 x 246 x 19mm | 644g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236589009
  • 9781236589002