Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
217 Records
keep a copy of the following records at its head office:
RSA 2000
(a) its instrument of incorporation and bylaws;
(b) the particulars of any terms or conditions imposed on its
licence;
(c) the particulars of exceptions granted by the Minister that are
applicable to the company;
(d) the minutes of meetings and resolutions of participating
policyholders or shareholders;
(e) the name, address and date of appointment of the auditor;
(f) the directors register
(i) containing the name and address, including any mailing
address, and a statement of citizenship of all persons
who are or have been directors, the date on which each
became a director, the terms of the appointments and the
dates on which they ceased to be directors, and
distinguishing, in the case of a life company, between
policyholders' directors and shareholders' directors,
(ii) containing a list of the bodies corporate of which each
director is an officer or director and the firms of which
each director is a member,
(iii) containing the names of the directors who are also
officers or employees of the company or any of its
affiliates and a list of the positions they occupy in the
company or affiliates, and
(iv) the name of each committee on which each director
serves;
(g) a central securities register set up and maintained in
accordance with section 49 of the Business Corporations
Act as incorporated by section 230 of this Act;
(h) a copy of the current fina ncial statements of the company
and each of its subsidiaries;
(i) a copy of the investment committee procedures and policies;
(j) minutes of meetings and resolutions of the directors and any
committee of the directors;
(k) adequate accounting records
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(i) that will enable the Minister to determine the company's
financial position and whether it is in compliance with
this Act and the regulations,
(ii) that set out the company's investments,
(iii) with accounts, in the form and manner determined by the
Minister, in respect of participating policies that are
separate from accounts maintained in respect of other
policies, and
(iv) that set out the amount owing to it by each customer of
or claimant under a policy issued by it, and the nature of
its liabilities to the customer or claimant.
(2) Every provincial company must keep at its head office any
information or data relating to the preparation and maintenance of
the records referred to in subsection (1).
(3) The Minister may make regulations respecting the manner in
which the records referred to in subsection (1) are to be retained by
a provincial company and the length of time those records are to be
retained.
(4) The Minister may, subject to such terms and conditions as the
Minister considers appropriate, exempt a provincial company from
keeping all or any of the records referred to in subsection (1) in
Alberta.
(5) A provincial company that is permitted to keep records at a
place outside Alberta under the authority of subsection (4) must
pay the reasonable transportation and living expenses of any
examiner authorized by the Minister to travel to that place to
examine those records, and the costs may be recovered from the
company by the Minister in an action for debt.
RSA 2000 cI-3 s217;2003 cP-6.5 s69