Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
326 Statement of director
(a) resigns,
(b) receives a notice or otherwise learns of a meeting of
participating policyholders or shareholders called for the
purpose of removing the director from office, or
RSA 2000
(c) receives a notice or otherwise learns of a meeting of
directors or participating policyholders or shareholders at
which another person is to be appointed or elected to fill the
office of director, whether because of the director's
resignation or removal or because the director's term of
office has expired or is about to expire,
is entitled to submit to the provincial company a written statement
giving the reasons for the resignation or the reasons why the
director opposes any proposed action or resolution.
(2) Where a director of a provincial company resigns as a result of
a disagreement with the other directors or the officers of the
company, the director must submit to the company and the Minister
a written statement setting out the nature of the disagreement.
1999 cI-5.1 s326