Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
312 Disqualified persons
directors of a provincial company:
(a) a person who is less than 18 years of age;
(b) a person who is of unsound mind and has been so found by
a court in Canada or elsewhere;
(c) a person who has the status of an undischarged bankrupt;
(d) a person who is not an individual;
(e) a person who holds shares of the company where, by section
257(6), the person is prohibited from exercising the voting
rights attached to the shares;
(f) a person who is an officer, director or full-time employee of
an entity that holds shares of the company where, by section
257(6), the entity is prohibited from exercising the voting
rights attached to the shares;
(g) a person who is a repres ented adult as defined in the Adult
Guardianship and Trusteeship Act or is the subject of a
certificate of incapacity that is in effect under the Public
Trustee Act;
(h) a person employed in the public service of Alberta or by a
Provincial agency or Crown-controlled organization within
the meaning of the Financial Administration Act and to
RSA 2000
which that Act applies, whether under a contract of service
or a contract for services, whose substantive duties are
directly concerned with the business or affairs of insurers,
insurance agents or adjusters;
(i) a person who fails to meet any other qualification
requirements of the bylaws;
(j) a person who, within the immediately preceding 5 years,
(i) has been convicted of an indictable offence that is of a
kind that is related to the qualifications, functions or
duties of a corporate director, or
(ii) has been convicted of an offence against this Act,
if the time for making an appeal has expired without an
appeal having been made or the appeal has been finally
disposed of by the courts or abandoned.
(2) A shareholder of a provincial company is disqualified from
being a participating policyholders' director of the company.
RSA 2000 cI-3 s312;2008 cA-4.2 s136