Part 1 — Licensing of Insurers and Reciprocal Insurance Exchanges Subpart 1 Licensing of Insurers Insurer's Duty to be Licensed
105 Suspension or cancellation of licence
fails or refuses to comply with or contravenes any provision of this
Act or the regulations, the licence issued to the exchange may be
suspended or cancelled by the Minister after notice and opportunity
for a hearing before the Minister has been given to the exchange or
its principal attorney.
RSA 2000
(2) A suspension or cancellation under subsection (1) does not
affect the validity of any reciprocal contracts effected before the
suspension or cancellation of the rights and obligations of
subscribers under the contracts.
(3) The principal attorney must give the subscribers notice of the
suspension or cancellation and the Minister must publish notice of
the suspension or cancellation in The Alberta Gazette.
1999 cI-5.1 s105