Part 1 — Licensing of Insurers and Reciprocal Insurance Exchanges Subpart 1 Licensing of Insurers Insurer's Duty to be Licensed
55 Non-payment of claims
Minister is satisfied that
(a) a judgment arising out of a contract of insurance made in
Alberta has been issued against the insurer, and
(b) the judgment has become fina l in the regular course of law,
is enforceable in Alberta and has remained unpaid for 30 or
more days after becoming final.
(2) The Minister may revive a licence that has been cancelled
under subsection (1) if the judgment against the insurer is paid
within 6 months after the cancellation and the licence would not
have expired.
1999 cI-5.1 s55