Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
330 Vacancy among shareholders' or policyholders' directors
331, where a provincial company has shareholders' directors and
participating policyholders' directors and a vacancy occurs among
those directors,
(a) the remaining shareholders' directors or participating
policyholders' directors, as the case may be, may fill the
vacancy except a vacancy resulting from an increase in, or a
failure to elect, the number or minimum number of
shareholders' directors or participating policyholders'
directors,
(b) if there are no such remainin g directors and, by reason of the
vacancy, the number of directors or the composition of the
RSA 2000
board of directors fails to meet any of the requirements of
sections 311, 314(2) and (3) and 315(4), the other directors
may fill that vacancy, and
(c) if there are no such remain ing directors and clause (b) does
not apply, any participating policyholder or shareholder may
call a meeting of participating policyholders or shareholders
for the purpose of filling the vacancy.
1999 cI-5.1 s330