Bill ID 3185 (Legislature 21, Session 2)

L21 S2 3185

Alberta — Bills

1987 BILL Pr Second Session, 21st Legislatiire, 36 Elizabetii II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL Pr FAIR & MILLIKIN INSURANCE COMPANY ACT MR. STEWART First Reading Second Reading Committee of tiie Whole Third Reading Royal Assent Bill Pr Mr.

Stewart BILL Pr FAIR & MILLIKIN INSURANCE COMPANY ACT (Assented to , 1987) Incorporation Capital stock WHEREAS tiie persons hereinafter named have by tiieir petition prayed that it be enacted as hereinafter set forth, and it is expedient to grant the prayer of the petition; THEREFORE HER MAJESTY, by and witii tiie advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1 James D. Fair, businessman, Cameron Millikin, businessman, N. Murtay Edwards, lawyer, Virginia May, lawyer, and Michael L.J.

Morin, lawyer, aU of the City of Calgary, together with such persons as become shareholders in the company, are incorporated under the name of Fair & Millikin Insurance Company, hereinafter called "the Company". 2 The persons named in

section shall be the provisional directors of the Company. 3 The capital stock of tiie Company shall be $25 divided into (a) 20 common shares having a par value of $1 each, and (b) 5 preferted shares witii a par value of $ 1 each. Subscription 4(1) The amount to be subscribed before the general meeting for tiie election of directors is called shall be $1 000 000.

(2) Unless tiie Company applies for a licence under the Alberta Insurance Act witiiin 2 years after tiie commencement of tiiis Act or witiiin such extended period not exceeding 1 year as tiie Lieutenant Governor in Council allows, (

a) the Company shall not be licensed under the Alberta Insurance Act, and (

b) the incorporation of the Company ceases to be in force except for the purpose of winding up the affairs of tiie Com pany and retiuning to the subscribers the amounts paid by tiiem upon the subscribed stock or so much thereof as they may be entitied to. Comniencenient of business The Company shall not commence business until the amount of the capital stock required by

section of the Alberta Insurance Act has been subscribed and paid. Head office The head office of the Company shall be in the City of Calgary, in the Province of Alberta. Qass of business The Company may make contracts of insurance of all classes, except life insurance, and may do all acts and things necessary for the piupose of engaging in or carrying on the business of insurance in respect of those classes. Application of Companies Act Sections to of tiie Companies Act apply to tiie Company. Title: 1987 (21st, 2nd) Bill Pr26, Fair and Millikin Insurance Company Act

Document details

Collection	Alberta — Bills
Citation	L21 S2 3185
Type	bill
Volume / chapter	L21 S2 3185
Language	en
Format	json
Source	PROVINCIAL
Identifier	21142928a875d02fae813bf481aeaa79d98b9c3c

Source file is stored in the law ingest library (json).