Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
115 Debt obligations
its prescribed subsidiaries to, enter into a debt obligation or issue
any share, other than a common share, if as a result the aggregate
of the total debt obligations and the market value of the prescribed
shares of the company and its prescribed subsidiaries would exceed
20% of the total assets of the company and its prescribed
subsidiaries.
(2) A provincial property and casualty company shall not, and
shall not permit its prescribed subsidiaries to, enter into a debt
obligation or issue any share, other than a common share, if as a
result the aggregate of the total debt obligations and the market
value of the prescribed shares of the company and its prescribed
subsidiaries would exceed 2% of the total assets of the company
and its prescribed subsidiaries.
RSA 2000 cI-3 s115;2008 c19 s21;2013 c18 s27