Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
180 Federal and extra-provincial companies
extra-provincial company that enters into a Division 10 agreement
to fundamentally reinsure any of its contracts of insurance that are
made in Alberta with another licensed federally authorized
company or extra-provincial company must provide a copy of the
agreement to the Minister.
(2) A Division 10 agreement referred to in subsection (1) does not
affect contracts of insurance that are made in Alberta until the
Division 10 agreement has been provided to the Minister.
(3) The Minister may require a licensed federal or extra-provincial
company that is fundamentally reinsuring contracts of insurance
made in Alberta to notify, in a form and manner satisfactory to the
Minister, the policyholders under those contracts of the
fundamental reinsurance.
1999 cI-5.1 s180