Part 1 — Licensing of Insurers and Reciprocal Insurance Exchanges Subpart 1 Licensing of Insurers Insurer's Duty to be Licensed
23 First licence of provincial company
Minister must be satisfied that
(a) the meeting of shareholders referred to in section 133 has
been held,
(b) the expenses of incorporation or organization that have been
paid or are to be paid by the company are reasonable,
(c) the management, directors or persons who hold a significant
interest in any class of shares of the company are fit as to
character, and
RSA 2000
(d) the management and dir ectors have the competence and
experience suitable for involvement in the operation of a
financial institution.
1999 cI-5.1 s23