.

AN ACT TOt A~iEND CHAPTill'R 55 OF THE STATU1,ES 0]' . ALBERTA, 1010, WHICH AMENDS THE. ACT TO INCORPORATE THE L:HW~lBE AND BLJNDMAN V:\L· LEY BLECTHIC 11AILWAY COMPANY. His Majesty by and with the advice and oonsent of the Te~slative Assembly of thn Province of Alberta enacts a~ follows: 1. Seetion Number 1 of

Chapter 55 of:·thei Statutes of the Province of Alberta, pass1~ in the year 1910, being

an Act to amend

Section Number '15 of the Act to incorporate La· com& ana Blirndman Valley ~lectric Railway Company;

Chapter 4S of the Statute of !lw Province of AU1Jrta passed :n the year 1909, is hereby amen.loo by striking out the words "four" and "six" where they occur in line 6 thereo·f and hy substitutini therefor, the wo1:ds "four and one·half" ftJld "six and one-half" respectively.

(i) · ''Inland marine insuraJ1.ce '' means marine insurance ~nland f,arinc in respect of subjects of insur~nce at risk in Canada above msuran e the harbour of Montreal; ( ') " 1 • " · · · Mutual J Mutua msurance ans msurance g1ven 1n con- insuran4e sideration of a premium note or undertaking with or with- out any immediate cash pay ent thereof; and the expres- sion "mutual company" m ans a company empowered solely to transact mutual ins ance; (k) "Cash-mutual com pan ·" means a company organ- ~0~1~,-~~Wual ized to transact mutual insur ce, but empowered to under- take contracts of insurance o both the cash plan and the premium note or mutual pl n; (l) "Guarantee Insurance' means the guaranteeing of~~;:~~~· the fidelity of persons in p sitions of trust; or the due performance of contracts; . (m) "Accident Ins.urance "tmeans insurance against bod- t:.~~:~c ily injury and death by ac ident, including the liability of employers for injuries to ersons in their employment; (n) "Plate glass insuranc " means insurance against fnl:~~.~t:• the breaking of plate or othei glass, either local or in tran- sit;\ ( 0) "Steam hoi ler insuran¢e" means insurance against rn~~~~n~~Her loss or damage to life, persop or property caused by the explosion of steam boilers; (p) ''Inland transportati1 insurance'' means insur- ~;~~~go~tation ance against loss or damage 0 goods, wares, merchandise mouran e or property of any kind, inc uding matter transmitted by mail, in transit otherwise tha by water, from place to place in Canada; Cz) "Sickness insurance" neans insurance against loss l:~;;~i• through illness not ending in death, or disability not aris- ing from accident or old age ( ) II A b'l · · " · .

Automol.>ile r utomo 1 e 1nsuranc means Insurance agamst insumn;e accidental injury or death to the driver of an automobile, including insurance against l ss or damage from accident to or injury suffered by an e ployee or other person caused by an automobile for which he owner is liable; and insur- .ance against loss or damage o property from an accident caused by an automobile e cept by fire, and insurance against loss or damage to an automobile by accident, bur- glary or theft; (s) "Investment insuranc " means insurance against ~nvestntent loss of either principal on nterest, or both, of moneys meuran e lent, invested or secured mortgages or debentures, and loss of deposits and loan of every kind to any person or persons, or corporation at orne or abroad, and includes insurance against loss of ren als by any cause except fire; (t) "Foreign company" mans any company not incor-~~~e~~~{v porated by or under the aut writy of the Legislature of this Province; (u) "License" means licerfse or certificate of registra­ tion; (v) "Licensed" means liceqsed or registered.

APPLICATiqN OF ACT. 3. The provisions of this Ac~ shall not apply to a company Afplicafi<>n licensed by the Dominion of !Canada except as to sect1ons" Act

3 numbered two, four, fivelseven to eleven inclusive, thirteen to twenty-four inclusi e, forty to forty-two inclusive, fifty-seven to sixty incl sive, and seventy-six to eighty­ two inclusive. J.,!CENSES. 4. No company shall ndertake or solicit, or agree or ~~:~;:ry offer to undertake, any ontract within the intent of .the second

section of this Ac , whether the contract be original or renewed, except the enewal from time to time of life assurance policies, or ace pt, or agree or negotiate for any premium or other consi eration for the contract, or pro­ secute or maintain any action or proceeding in respect of the contract, except s ch actions or proceedings as arise in winding up the affairs of the company, without in each such case having first obt ined from the treasurer, and hold- ing a license or a renew 1 of ~mch license, under the pro­ visions of this Act. 5. No such license sha 1 be granted- (

a) To a joint stock mpany undertaking fire, or fire~afi.ic'ri~:dtiommm and inland marine, or re and accident, or life, or life ~n~~J!'nid-up and accident, or guarant e or suretyship insurance, or hail insurance, unless the a nount of its authorized ; capital stock shall be at least $50 ,000, and unless the company shall furnish to the superinte 1rlent satisfactory evidence that of the said capital stock least $200,000 has been bona fide subscribed for and taken up, and that at least $25,000 of the said subscribed stock has been paid up; (

b) To a joint stock c mpany undertaking accident, or sickness, or sickness and accident, or live-stock insurance, with or without insuran e on vehicles, unless the amount of its authorized capital stock shall be at least $200,000, of which $100,000 at le· st shall be shown to have been bona fide subscribed for a d taken up, and at least $10,000 paid up; (

c) To a joint stock 1mpany (not being one of those referred to in sub-secti n (

d) hereof) undert~king only inland marine insurance, r inland transportation insurance, or insurance against an loss of or damage to property by accidental causes, in luding explosions, or by reason of larcency, housebreaki _ or burglary, or any two of said kinds of insurance, unless the amount of its authorized capi­ ital stock shall be at least 100,000, of which at least $50,000 shall he f'lhown to have een bona fide subscribed for and taken up, and at least $1 ,.000 pa'id up; (

d) To a joint stock ompany undertaking bicycle or vehicle insurance, or pia glass insurance, or both, unless the amount of its author' ed capital stock shall be at least $25,000, of which $12,00 at least shall be shown to have been bona fide subscribe for and taken up, and at least $3,000 paid up.

(2) This

section shall jnot apply to any company now licensed until after two tears from the coming into force of this Act. 6. A license under this ret may be granted to a company ~cen••• other than a company i corporated under the authority grouv• of the Parliament of Can da to carry on the business of- (

a) Life insurance in a 1 its branches; or

4 (

b) Fire, storm, cyclone, I tornado, hail, inland marine, inland transportation and sprinkler leakage insurance; or (

c) Plate glass, live stock!, explosion, steam boiler, bur­ glary, theft, automobile an~ vehiCle, guarantee, accident and sickness insurance; or (

d) Mortgage, investmen~ and title insurance, or any kind or kinds of insurancr not included in any of the foregoing groups. 7. A company licensed to carry on the kind or kinds of Comioy m .. y business in any one of the roups mentioned in

section 6 ~~.·~ ~~.for of this .Act with the excepti n of group (a), and may take group out one, two or three licens s, as the case may be, to carry on the kind or kinds of busi ess in one, two or three of the remaining groups, excepting roup (a), upon paying an addi- tional license fcc for each s ch additional license according to the scale fixed by

section 58 of this Act, and may com- bine any of the kinds of usincss for the carrying on of which it has received a license or licenses. No such company shall carry on any such business in this province without being specially licen ed to do so under this section. 8. The license shall be in luch form as may be frorri time Form lor to time determined by the treasurer; and it ·shall specify tieons~ the business to be carried n by the company and shall expire on the thirty-first d y of December in each year, but shall be renewable from year to year. 9.

Every company incorpo,ated by the Legislative Assem- ~r 0 i~t·;:~~ 011 ror bly of Alberta or licensed o registered under The Alberta:;';~!~~ ;~~dbe ! n8u~ance ~ct, or transac~in . any business of life insural?ce ~~,~~a "" m this provmce, shall mamt Ill a reserve for the protectiOn comp nies of its policyholders, comput d on the basis of the reserve required under the provisions of The I n8urance Act of Canada. for the time being in force. 10.

All foreign insuranc~companies, licensed to tran- Foreif· • • • • • corllp nlcs sact any busmess of lrfe msur nee m the Provmce of Alberta, muRt eposit shall deposit with the Pr incial Treasurer the reserve reser required by

section 9 on all its Alberta policies. n.

Every company, incor orated or licensed by the Leg- ~~~~'tnie• islative Assembly of Albert , under The Alberta I n8urance must ake Act, transacting any busines of life insurance in this prov- :r .. ~, ent . ' . of valte of all mce, shall annually, on or before the first day of Apnl, tire.h uronce furnish to the superintend nt of insurance a statement pohm " of the value of all its policie. in force at the thirty-first day of December of the precedi g year, certified to by a duly qualified actuary, such val ation to be computed on the basis of the reserve require under the provisions of The 8 ! ..

A . uper n t..enuen l Insurance ct of Canada; nd, once m every five years, shall . ake ?r oftener (a~ the discretio of the Minis~er), the super-!~~~;:,: mtendent of msurance shall have a valuatwn made of all fh ~ · said policies then in force b a duly qualified actuary, who shall be appointed by the inister. 12. So soon as a compaty applying for a license has I_ssuc Jr deposited with the treasu er the securities hereinafter he••• mentioned and has otherw se conformed to the require­ ments of this Act, the treasur r may issue the license.

13. Every company which lakes out and holds a license Rights~ shall have the same powers nd rights of carrying on its ~~'idf:; business in this province as if it had been incorporated ~;;tifi~.~ by

an Act of the Legislature f this province. 14. Insurance licensees of tt Dominion of Canada shall, Pc~':.::.:::r· upon due application and u on proof of such Dominion license subsisting, and upon therwise conforming to the provisions of this Act, appli able to Dominion licensees, be entitled to be registerPd u der this Act. 15.

Every company, on rst obtaining such license, I:'fotire t+at :shall forthwith give notice th reof in The Alberta Gazette, ~ge~~edl and at least one newspaper i the City of Edmonton and Rhall continue the publicatio thereof once each week for the space of four weeks, and hall give the like notice for the same period when the mpany ceases to carry on buo;iness in Alberta. 16.

The treasurer shall ca se to be published yearly Yearly ~ in The Alberta Gazette, a list of companies licensed 'under~~b~ir~~ ~er or this Act, with the amount of he deposit, if any, made by ~~:;,n;!~; • each company; and upon a ew company being licensed or registered, or upon the lice se or certificate of a company being withdrawn, he shall pu lish a notice thereof in The Alberta Gazette for the space f two weeks.

DOCUME~TS Tb BE l<'IL!';D. 1?· Before the issue of a lic~~se, or a certificate of :e~s- ~0\,~mfiw.~ tratwn, to a company not mcorporated by provmc1al before i ue h . 1 h ]] l · h ffi f h of !teens aut onty, t 1e company s a e m t e o ce o t e treas- urer the documents provided f r in the three next following subsections, that is to say: (

a) A certified copy of the ct of incorporation, or other ~o';~i~[dl instrument of association of th company; charter (

b) A power of attorney co taining the matters herein- Power otl . . attorney after mentiOned from the co pany to the supenntendent to !n•pec .or of insurance for the province, mder the seal, if any, of the of msur& ce company, and signed by the president and secretary or other proper officer thereof, i the presence of a witness who shall make oath or affirm tion as to the due execution thereof; and the official positi ns in the company held by the officers signing such powe of attorney shall be sworn to or affirmed by some person cognizant of the facts nP-ces- sary in that behalf; provided that whenever the company has, by such power of attorne , under the seal of the com- ~t~~~~!~r pany, appointed a general gent for Canada, and hast attorn [ thereby authorized such gen ral agent to appoint chief c~,.~~:r~~ officers or agents of the comp ny in the various provinces ana a of Canada, then, after filing ith the Provincial Treasurer a copy of the said first menti ed document, duly certified by a notary public to be a t ue copy thereof, powers of attorney executed by the said g neral agent for Canada under his seal, in the presence of a 1tness who has by oath or affirmation duly verified the execution thereof, shall be deemed sufficiently executed y the company for all the purposes of this Act; (

c) In the case of compai· es not licensed under The ~t· .. 'ff~i~' Insurance Act of Canada, a st ement, in such form as mayor comv~~y be required by the treasurer, f the condition and affairs

6 of the company on the thi~y-first day of December then next preceding, or up to t e usual balancing day of the company (but such day s all not be more than twelve months before the filing of he statement). 18.

Such power of attorn y shall declare at what place :r~~~lf~:;r in the province the chief ag cy or head office is or is to be •han ¥••1•«• established, and shall expr sly authorize the said super­ intendent of insurance to rec ive at his office, in the Govern- ment buildings, service of ocess in all actions, suits and proceedings against the com any in the province in respect of any liabilities incurred y the company therein, and shall declare that service of rocess for or in respect of such liabilities in the said super ntcndcnt of insurance, at his said office, shall be legal a d binding on the company to all intents and purposes wh tsoever. 19.

No foreign insurance company now doing business ~:;~!nics in this province, or berea ter admitted to do business,:~;~, Pfe~:t'.tnt directly or indirectly, and n t having its head office wit,hin~~~~ ~~~Y this province, or incorporat d under the lawr;; of this prov- ince, shall issue policies, tak risks or transact any business in this province until it sha I have first appointed, in writ- ing, the superintendent of insurance (or his successor in office) to be the true and Ia ful attorney for such company for this province, and up whom all lawful processes, in any action or proceedin against the company may be served. 20.

The said power of att rney shall stipulate and agree ~t"::l.; 1 shan upon the part of the comp ny that any lawful process in invite service on at orney any action against the com any, which is served upon the hindi g on said attorney, shall be of th same legal force and validity comp ny as if served upon the com any, and that such authority shall continue in force so ong as any liabilities remain Dupi~· ate outstanding against the co pany in the province.

Dupli- ~~~:,;ito cates of said power of attorn y, duly filed as aforesaid, shall ~~2 1 with be filed by the company at Edmonton in the office of the Supre ne Court '1 at Ed wnton clerk of the Supreme Cour . 21.

Whenever any legal process is served upon the ~'tfc~1~!~~~,1"t superintendent of insuranc , as attorney for a foreign~~~~~ ~~·fy company, under the provisi ns of this Act, he shall forth- with notify the company of uch service by letter, contain- ing a copy of such proces , prepaid and directed to its secretary, or, in the ease of< foreign country, to its resident manager, if any, in Canada, or to such other person as may have been previously desig ted by the company by writ- ten notice filed in the office of the superintendent of insur- ance as the person to whom the same should be sent.

The superintendent of insurance shall keep a record of the day and hour of the service of oeess on him. 22. There shall be no jud ment for default of appearance~; jj!~\~ent or defence or action taken a a consequence of such service ~~i~~ ;r::n. unless and until an affidav t is filed in the court, out of which or by which such pro ess is. issu.ed, showing that the said attorney has duly not fied the company affected by such process in accordance ith the requirements of

section 21 of the service upon him f such process.

7 23. Du~licates of such pt.wers of attorney, duly verified ~ug!Ji'il:" as aforesaid, shall be filed y the company at Edmonton~~ ~/!t.~ in the office of the clerk of the Supreme Court. 24.

Every company licen d under The Alberta Insurance wor~ to Act to do a fire insurance usiness in Alberta shall cause~~,;,;~·~. to be printed, stamped or itten, in plain letters, across i"rit f on the face of every policy, in erim receipt or other insuring;~~". fire document covering fire loss, issued by or on behalf of such d.~~~~ :nt company, on property of a y kind, either real or personal, in Alberta, or which on t face of such policy, interim receipt or other insuring doc ment is stated to be in Alberta, the words " Licensed under 1 The Alberta Insurance Act' " or 11 Registered under 1 Th Alberta Insurance Act' '' as the case may be.

SECL!RITIES. 25. Every company shal} before the original issue or Depo.¥.t or the renewal of the license, dge with the treasurer either oecunr,rcs in cash or in any stock, de entures or other securities in which trustees may invest trust money, the initial or renewal deposits respectivcl hereinafter stated. lniti~J. 26. The in~ti!lJ d~posit t be ~ade by any company ~~ao:f.'davi~ before the ongmal Issue of the hcense shall be the sum appointed for such compan in the twenty-eighth

section of this Act, and such depos L shall be accompanied•by an affidavit of at least two of t e principal officers of the com- pany that the said securiti s are absolutely the property of the company and are fre from lienR and incumbrances of any nature whatsoever. 27. Before the annual riewal of licenses the amount t~:il~~trnent of deposit required of ever company shall, on or bet ore or dc,;f,sit. the first day of .January in ea h year, be re-adjusted in terms of the two next following se ions. 28.

If on the preceding ~thirty-first day of December~~~:\¥.'· " 1 in any year the company' total contingent liability or amount at risk does not ex eed one million five hundred thousand dollars, then- (

a) Every joint stock co any, if provincial, shall keep on deposit with the treasur $10,000, and, if a Canadian or foreign company, $20,000, except a plate glass insurance company, which shall rlcpos t $3,000; (

b) Every benevolent, pr vident, industrial or co-oper­ ative society not incorporat .d by or under the authority of

an Act of the Parliament o Canada, shall keep on deposit with the Treasurer $10,000, ut if doing only sickness and funeral benefit insurance, o one of them, the amount of the deposit shall be $2,000; (

c) Every provincial mu!ual fire or fire and inland marine company, insuring mercantile or, manufacturing risks, shall keep on deposit w th the Treasurer five thousand dollars; and every provinc al cash-mutual fire, or fire and inland-marine, company insuring mercantile or manu­ facturing risks, five thousan dollars. 29. If on the preceding tt• ty-first day of December in Seo;;ri~. hffi any year the company's to al contingent liability or the !:'h.; ·~: amount of risk exceeds one ·man five hundred thousand It~. eed

dollars, then for each addit" nal one million five hundred thousand dollars, or fraction thereof, each company enum­ erated in the next precedin

section shall, if a Canadian or foreign company, keep o deposit with the Treasurer, by way of additional secur ty, a sum equal to one-half of the initial deposit; and, f a provincial company, shall keep on deposit two hundre dollars for every one hundred thousand dollars, or fractio thereof, by which said total contingent liability or amoun at risk is exceeded. 30.

Notwithstanding the provisions of its charter of ~f~~~,in~l .. 1 incorporation, every co~p ny hereto~ ore or hereafter~~~.:; .. ;.,. chartered under the author1t of the Leglslature of Alberta, by thi Act shall be governed only by his Act in regard to deposits to be made with the Tre surer or the Government of Alberta, and shall not be req ired to make or continug any further or other deposit or d osits than such as are required by this Act. 31.

Securities of the Dom1nion of Canada, or securities Domi~"'! . issued by any of the provinc s of Canada, shall be accepted ::~X _:m•ml at their market value at the time when they are deposited. :;1o;: et 32. Municipal and schoolt.debentures, legally and pro- !~~~ct· al perly issued in the province, s all be accepted at their market d~~.~ct ~~~ value at the time when they are deposited. :~,1~':· et 33. The other securities al:t>ve specified shall be accepted ~~~i~'f."~, 11 at such valuation and on su~h conditions as the Treasurer other., d. srcun eH may 1rect. 34.

If the market value of ny of the securities which have Tro"!'';}"r may been deposited by any com any declines below the value :i~~~';ri·~ further at which they were deposit d, the Treasurer may, from time to time call upon the company to make a further deposit, so that the market v lue of all the securities deposi- ted by any company shall e equal to. the amount which they are required to deposit y this Act. 35.

Where any company d~ires to substitute other secur- ~r:~~-i~i:' ities for securities deposited 'th the Treasurer, the Treas-::i~} urer if he thinks fit may per it the substitution to bA made. by Tr surer 36.

A company may depos· in the hands of the Treasured,';;~;:;t any sums of money or secur ties of the_ kind prescribed by :C~~\'.'f1 the twenty-eighth se<)tion of his Act beyond the sum here­ inbefore required; and such f rther sums of money or securi- ties shall be dealt with as if he same had been part of the original deposit; and no p rt of the additional deposit. shall be withdrawn except ith the sanction of the Lieu­ tenant Governor in Council. 37.

A company having r~de a deposit under this Act '1'ith~d.w.al shall be entitled to withdraw the deposit, with the sanction by·~~~·~~:;'~ •• of the Lieutenant Governo in Council, whenever it is tc;::,~n o~r made to appear to the satisf ction of the Lieutenant Gov- ernor in Council that the com any is carrying on its business of insurance under license f m the Dominion of Canada. 38.

If from the annual stitements, or from an examin- pe&ci~h•Y ation of the affairs and condit on of any company, it appears~t'."'1~t,r. that the re-insurance value of all its risks outstanding good in Alberta, together with a y other liabilities in Alberta,

g exceeds its assets in Albe ta, including the deposit in the hands of the Treasurer, t en the company shall be called upon by the Treasurer t make good the deficiency at once, and, on failure so to do, its license shall be cancelled, and its corporate powers hall thereupon cease and deter­ mine, except for the pu pose of winding up its affairs. In the case of life compa · es, such re-insurance value shall be calculated on the basis used by the insurance branch of the Department of Finan at Ottawa. 39.

Except in cases wi h respect to which it may be ~~t"!":leposit otherwise provided by the Lieutenant Governor in Council, so long as any company' deposit is unimpaired and no notice of any final judg ent or order to the contrary is served upon the Treasur r, the interest upon securities forming the deposit shall e handed over to the company, when received by him . . 40.

Every for~ign comp ny shall file with the Tr~asurer ~o ';'6~~·· Ill the name of ItS genera agent through whom all ItS fire in ranc_e b · · th · • d d h to le watb USllleSS In e prOVlnce S Written or reporte. , an W 0 Tr asurer alone shall be authorized I y that company to sign or coun- :: ~~ .. l 1 or tersign policies, or if a c mpany has no general agent in ~t e•.:!J~nts this. province the nanies f all agents having authority to~~ -~~:;•ign sign or countersign policies, for such company, all such agents or general agents to be resi ents of the province; a company may cancel the appointn ent of its agent or agents and appoint another agent o other agents, when and as it sees fit, provided notice f such change is given to the Provincial Trea::mrer. 41.

No foreign compan~shall issue any policy unless the same is signed or countersi ned by a resident of this province previously named to the rovincial Treasurer as the agent of that company in accord nee with

section 40 of this Act. 42. Any foreign compan which issues a policy not signed or countersigned by a res dent of this province, named as agent under

section 40 sh II be liable to a penalty of not less than two hundred d !Iars and not more than five hundred dollars for each olicy so issued; and failing pay­ ment of the said penalty pon the request of the Treasurer its license or certificate o registration shall be cancelled. 43.

Where a company ails to make the deposits under ~~\~~~~t;~cy this Act at the time requ· ed, or where written notice has ~';,1~•r hcen•e been served on the Treas rer of an undisputed daim aris- ing from loss insured agai st in Alberta remaining unpaid for the space of sixty days after being due, or of a disputed claim after legal valid dis barge being unpaid, so that the amount of securities repres nting the deposit of the company is liable to be reduced by sale of any portion thereof, the license of the company s all ipso facto be null and void and shall be deemed to b cancelled as in the twenty-first

section of this Act provide ; but the license may in the two last mentioned cases be newed, and the company may ag;ain transact business, i within six months after notice to the Treasurer of the cor pany's failure to pay any undis- puted claim or the amount f any final judgment as provided in this Rection, such undisp ted claim or final judgment upon or against the company · Alberta is paid and satisfied, and the company's deposi is no longer liable to be reduced below the amount require by this Act.

10 ADMINISTRATION ' SECURITIES. 44. The securities deposited with the Treasurer shall For what be subject to administration onl in respect of any contract ~~'Jr'itie. which falls within the second se tion of this Act, and which ~Z~nist.er<'\1 further has for its subject som property in the province, or property in transit to and fr m the province, or the life, safety, health, fidelity or insur ble interest of some resident of the province, or where the contract itself makes the payment thereunder primarily payable to some resident of the province. 45.

Any company shall be liable upon the applica- !td::!~~:~:;~tion ~ion of any creditor or policy older, .tC? have i~s deposits ~~o~~ailur~ m the hands of the Treasure admm1stered m manner unEisputed I hereinafter mentioned upon t e failure of the company claim to pay, any undisputed claim rising under any contract within the last preceding sect on for the sp~ce of sixty days after being due, or, if dis uted, after final judgment and tender of a legal valid dis arge, and (in either case) after notice thereof, to the T easurer.

In the event of such administration, all deposi of the company held by the Treasurer shall be applied p rata towards the payment of all claims duly authentica ed against the company, ~~;~~~r~~ as well as in respect of unear ed premiums, such being claims and premiums under the •om pact aforesaid; and the distribution of the proceeds of ch deposits may be made by order of a iudge of the Sup erne Court of Alberta. 46.

In any case where a claf1 accruing on the occur- ¥~:!~~r~~ ence of any event is by the ter s of the contract payable whe\flaim on proof of such occurence wit out any stipulated delay,~~~~~ of on the notice required in the last preceding

section shall not ~r::;~~ce 1 b ' t'l f th 1 ' d f h · •nthoutdPlfv e given un I a ter e apse o sixty ays rom t e time · when the claim becomes due. 47. Before an application it made to a judge of the ~~;~~~r~~ Supreme Court of Alberta for t e administration of a com-~! ()~~~~~~1~ n pany's deposit with the Treasur r, at least-. ten davs' notice admini•trn;f,m f h . d d }' . h l d h • of depoBlt.s o t e mten e app lCation s a I e serve on t e Treasurer; and the notice shall designate tl e day named for the hear- ing of the application. 48.

Upon granting an order r administration as afore- Appoi~tmerlt of rN.'etver I said, the Court shall appoint receiver, who may be an officer of the Court, who shall f rthwith call upon the com­ pany to furnish a statement of a I its outstanding contracts, being within the second and f rty-fourth sections of this Act, and upon all claimants u der such contracts to file their claims; and upon the fili of the claims before the receiYer the parties interested s all have the right of con­ testation thereof, and the right f appeal from the decision of the receiver to the Court as forcsaid, according to the practice of the Court; and in c se of any such administra­ tion, the claimants aforesaid sh II be entitled to claim for a part of the premiums paid pro ortionate to the unexpired ~i~tributim1 period of their contracts respe ively, and such unearned of assets premiums shall rank, in the 'stribution of assets, with judgments obtained and claims ccrued; and upon the com- pletion of the

schedule to he p epared by the receiver of all judgments against the comp ny upon said outstanding contracts, and of all claims for nearned premiums, or for surrender of policies, the Cour shall cause the securities

111 .held by the Treasurer for the company, or any part of them, to be sold in such manner an after :;mch notice and formali­ ties as the Court appoints; but all the proceeds thereof, after paying expenses incu red, shall be distributed pro rata amongst the claimant according to the schedule, and the balance, if any, shall e surrendered by the company. But if any claim arises wit in the forty-fourth

section of this Act, after the statemen of the said outstanding con­ tracts has been obtained fro the company as hereinbefore provided, and before the fi al order of the Court for the distribution of the proceeds of the securities, the holder of such claim upon due proo thereof shall be entitled to share in such distribution. 49.

As to any claim arisi] after the distribution of the c.Iaim±,~ft"' proceeds of the securities a as to any balance of claims ~~:~~~;!;;n against the company not fu ly paid and met by such dis­ tribution, the holders of su h claims shall not be barred from any recourse they rna have against the company. 50.

The court, by the ord r appointing a receiver or by Powcr~that any subsequent order, may uthorize the receiver to e:xer-~~.lfc~ .u cise, in respect of the accou ts of the company, all or any~~::,.~ ·;:r · of the powers which a Ju e of the Supreme Court of or taki g Alberta would have if he ere taking an account of the arcoun" claims against the s~id depos t, and every receiver so auth­ orized shall possess the said powers, as well as the powers usually enjoyed by a receive appointed under an order of the said Court.

SURRENDER cjF SECURITIES. 1 Wh h d b · Deliv"! 5 • ere a company a cease to transact USlness of secu ities in Alberta, and has given ritten notice to that effect ~~~~i~~ any to the Treasurer, it shall r -insure all such outstanding husinr• contracts as are within the forty-fourth

section of this Act, with some company r companies licensed to do business in Alberta, or obtain a discharge of such contracts; and its securities shall not e delivered to the company until the same is done to the satisfaction of the Tn~asurer. 52. When a company ha~ceased to transact business Paymlrt in Alberta after the notice h reby required and its license ;;V~~':n any h . b • h h h 11 that ha as lll Consequence een Wit rawn, t e COmpany S a pay ceased .o the losses arising from policie not re-insured or surrendered do hu•''""" as if the license had not bee withdrawn. 53.

Upon making applicati n for securities, the company Applie;tion shall file with the Treasurer a list of all contracts within ~';r.~;~r)~f! the forty-fourth

section of t is Act which have not been re-insured as provided by the fifty-first

section of this Act, or have not been discharged; d it shall at the same time publish in the Alberta Gazet a notice that it has applied to the Treasurer for the relea of its securities on a certain day, not less than three mont s after the date of the notice, and calling upon all claimant , contingent or actual, oppos- ing the release, to file their pposition with the Treasurer on or before the day so nam ; and after that date, if the Treasurer is satisfied that th company has ample assets to meet its liabilities under t e forty-fourth

section of this Act, all the securities may b released to the company by an order of the Lieutenant G vernor in Council, or a suffi- cient amount of them may b retained to cover the claim..<>

filed, and the remainder rna~ 'be released; and thereafter from time to time, as such o posing claims lapse or proof is adduced that they have b en satisfied, further releases may be made on the authorit aforesaid. CHANGE C)I<' NAME. 54.

Where a company i corporated under the pro- Change4tname visions of a special or general A ~ of the Legislature of Alberta is desirous of adopting a nam differing from that by which it was incorporated; or wher , in the opinion of the Lieu- tenant Governor in Council the name by which such company was incorporated m y be easily confounded with that of any other existing com any, the Lieutenant Governor in Council upon being satisfie that a change of name will not work or effect any impro er purpose, may by order in . council change the name of the company to some other name to be set forth in the rder in council; but no such change of name shall affect t e rights or obligations of the company; and all proceed in s which might have been commenced or continued by or against the company by its former name may be com nenced and continued by or against the company by its n w name. 55.

The Lieutenant Gove~or in Council may require ~';:i\::j,n the same notice to be given pon any application for such!~~~=~~. change of name as is require on an application for letters mn<ic patent under "The Alberta J 1:nt Stock Companies Act." 56. Notice of any change I of name shall be forthwith Notice or . d b h . 1 , f 'I'h Alb oucn chap~e mserte y t e company m at east one rssue o e erta Gazette. RECORDS TO BE KEPT IN I TREASURY DEPARTMENT. 57.

There shall be kept in the office of the Treasurer a !~~~~~ru~f record of the several docum nts filed by every company and doc m~nto d h . d d' h to be ke t m un er t IS Act, an under e hea mg of t e company Treasur. shall be entered the securiti s deposited on its account Depart ent with the Treasurer, naming i detail the several securities, their par value, and value a which they are received as deposited; and before the is ue of a new license, or the renewal of a license to a com any, the requirements of the law shall be complied with b the company, and the state- ment of its affairs must sho that it is in a condition to meet its liabilities; and a rec rd of the licenses and certi- ficates of registration as the are issued or renewed shall also be kept in the office of he Treasurer. 58.

Each company shall pay to the Treasurer the follow- Fee ing fees: (

a) For recording and filin~ in the office of the Treas­ urer .the documents required! by the seventeenth

section of th1s Act, $10.00; (

b) For initial license or certificate of registration to do business or renewal thereof: (I) $300.00 for fire or life~·nsurance; (2) $200.00 for hail, accid nt and guarantee insurance; (3) $100.00 for mutual insu ance;

13 (4) $100.00 for all kinds pf insurance not mentioned m this

section and mentioned lin clauses (b), (c), or (

d) of

section 6 of this Act: Provided that for the rerpainder of the year 1913 only three-fourths of the fees irj. the foregoing

schedule shall be paid. SERVICE .OF PROCES>. 59. After such certified ipies aud power of attorney s:~~f.~o~ 1 are filed as ~foresaid, any pr ce~s in any action, sui~ o~ :p~o- ~~n;ri•• ceeding agamst the compa , m respect of any habiht1es incurred in the province, m y be served upon its attorney appointed pursuant to the s venteenth

section of this Act, and such service shall be de med to be service on the com- pany: Provided, however, that~othing herein contained shall render invalid service in an. other mode in which the com­ pany may be lawfully serve . PLACE OF PAYMEfT OF LIFE POLICY. 60.

The moneys payable nder any policy of life unsur- Lire *oticy ance already issued, or that may hereafter be issued by a ~i~:r ~if' company that has alread obtained, or may hereafter ~~:;;r dthere obtain a license under the pr visions of this Act, or any Act, for which this Act is sub tituted, shall, in all cases, be payable in this province, w en t,he assured resides therein, notwithstanding anything ontained in any such policy or the fact that the head offi e o{ the company is not within this province. BOOKS 'I'O BE Klj:PT BY COMPANIES. 61.

Each company shall eep such a classification of its Bookf, to lw contracts and such register and books of account as may ~~~tPF~ie• from time to time be direct d or authorized by the Treas- urer; and if i.t appears at y time to the Treasurer that such books are not kept in s ch business-like way as to make at any time a proper show ng of the affairs and standing of the company, he shall t reupon nominate a competent accountant to proceed und r his directions to audit such books, and to give such i structions as will enable the officers of the company to eep them correctly thereafter, the expense of the accounta t to be borne by the company to which he is sent, and sha l not exceed ten dollars per day and necessary travelling e penses; the account for such audit and instructions shal be certified and approved by the Treasurer, and thereu on shall be payable forthwith by the company. ' ()2.

Where the company as a share or stock capital, the ~oi~~er company shall keep a stoc register, in which register all g the transfers of the stock all be accurately kept, and it shall at all reasonable time be open to the examination of any shareholder and the reasurer. The entries in such register shall include the fol owing particulars:- (

a) The register number f the shares transferred; (

b) The amount of subsc ibed stock transferred; (

c) The amount heretofor paid up on said stock;

14 (

d) The names and addless of the transferee; (

e) The date of transfer, I and date of disallowance by the board o~ directors. transferor and cmifirmation or 63. The books and recordj required to be kept by the two Al'plicrtion last preceding sections shall include only contracts within ~,.~:'ling the forty-fourth

section of thi Act. ••9t•o9• ANNUAL ~TATEMENT. 6~1o.

It shall be the duty the company t.o prepare an- ~=.::int• nually, on the first day of anuary or. wtthm one month ' thereafter, a statement of t e condition and affairs of the company on the thirty-firs day ,of December then next preceding, exhibiting the sets, liabilities, receipts and expenditures, in such form a d with such items and details as shall from year to year e required by the Provincial Treasurer and to cause sue statement to be deposited in the office of the Provincial reasurer, such statement to be accompanied by a statuto declaration to the effect shown i.n the form in schedu e A to this Act to be made by the president or vice-presid nt and secretary or treasurer. • n le case 0 re In urance companieS 0 er an comp. nics 65 I tl f fi - · th th Fire i~' flllrancc those transacting purely n n-hazardous mutual business, ~~S~~~~ 1 ; a copy of such

summary st ement shall be published in a , newspaper published in th city, town or district in which the head office of the comp w is located, on or before the fifteenth day of February in every year and proof of publi­ cation shall be filed with the uperintendent of Insurance on or before the fifth day of arch next following, in default of which the Superintende shall cause such publication to be made at the expense of the company. 6(i. Every company licen ed under this Act transacting ~~!~t~~~t fire or inland marine insura ce or both shall in addition sho~ h·~oount ' ' ' of be.~thty to the information required to be given in the statement uponilunearn<·d in this

section referred to, include therein a statement prem•,uns showing the total liability f the company, if an Alberta Company, in respect of u arned preminums upon all its outstanding unmatured po icies, and if not an Alberta company, in respect of un arned premiums upon all its outstanding unmatured poli ies of insurance upon property in Alberta. 67. Every company sha~, when required by the Pro- ~o~~~anies vint'ial Treasurer make pro pt and explicit answer in reply TreaR "?r ' ' all re utred to any inquiries in relation t its transactions. info«, ation CANCFJJ,LATION OF SLjSPENSION OF LICENSES. 68.

If at any time it ap ars to the Treasurer that the ~"li~~~~·:ion assets of any company are i sufficient to justify its contin- uance of business, or are su that it is unsafe for the public to effect insurance with it, e ~shall make a special report on the affairs of the compa y to the Lieutenant-Governor­ in-Council; and if, after full consideration of the report and a reasonable time being giv n to the company to be heard. and if, after such further in uiry and investigation (if any) a;; the Lieutenant-Governo Council may see fit to make, the Lieutenant-Governor-in Council concurs- in the report of the TreaRurer, an order i council may issue, suspending

11'> or cancelling the license of ihe company and prohibiting the company from doing an. further business, and there­ after it shall not be lawful for he company to do any further business in Alberta until th suspension or prohibition is removed by the Lieutenant- overnor-in-Council. 69.

Notice of the suspensio!;r cancl:'llation of any license Notire_l,r and prohibition from doing y further business shall be ~~·~;;~~W~tion published in the Alberta Gaz te; and thereafter any person transacting any business on ehalf of the company, except for winding up its affairs, shal be deemed for each offence to be liable to the penalty provid d by this Act. 70.

The suspension or can ellation or non-renewal of the ~~~~~~~m. license of any company, der "'l'he Insurance Act of~~"~~~ ;~n"ewai Canada "shall ipso +acto in the respective cases operate '!1 non inion J 1 ~ • hccns<" as a suspension or cancellati n of regtstry under thts Act, without notice from the Treasurer; provided that, if the company's license sha l be revived under "The In­ surance Act o.f Canada" th Treasurer shall, on proof of such revival and payment of the fee hereinbefore provided for, grant said company a ne certificate of registration. FORFEITUHE OF CipRPORATF, POWERS. 71.

The corporate power of any company, whether ~;~or;.~:~}~~:te incorporated under a special r a general <\.ct of the Legis- 1"'w""tY laturc of Alberta, shall be fo feited by no~-user during any"""-"" • continuous period of four y ars, ending after the corning into force of this Act, whetl r conm1encing before or after such coming into force, or if after a company had under- taken contracts within the in ent. of this Act, such company discontinues business for one year, or if its license remains suspended for one year, or if its license is cancelled, other- wise than by mere effiuxion o time and is not renewed within the period limited by this Act; and thereupon the company's corporate powers shall ips .facto cease and determine, except for the sole purpose o winding up its affairs; and a Judge of the Supreme Court of Alberta, upon the petition of the Attorney-General or of any person interested, may, by judgment or order, limit the ime within which the company shall settle and close its acco nts, and may for this specific purpo~e, or for the purposes o liquidation generally, appoint a receiver.

LIQU~DATION 72. When a company p rposes to go into voluntary 1'/otic<j or liquidation, at least one mo h's notice in advance shall be hqmd,twn given to the Treasurer; the like notice shall also be pub- lished by the company in wo consecutive issues of The Alberta Gazette, and in some newspaper should the Treasurer so require; and th notice shall state the date at which contracts shall cease o be taken by the company, also t.he name and address of the company's liquidator, or the intention of the com ny to apply on a stated date for the appointment of a liq idator. 73.

At the winding up off a mutual or cash-mutual fire !\ .. .!.ioii~;•e · ft • h b • · d up of utual Insurance company, a er no ICe as een gtven as reqmre , or ca -mutu•I by the fifty-first

section of his Act, it shall be lawful for compn ; •• the directors of such compan to re-insure out of the reserve

16 fund·the unexpired contractifor which premiums or premium notes have been taken, buts ch re-insurance shall be effected with some company licens d to transact business in the province, and approved by P Treasurer. 74.

When any company is wound up, each person con- R•hlnds tracted with on the cash p n shall be entitled to a refund from the company of the nearned proportion of the cash premium calculated from t e date at which the company according to the notice as rovided for by this Act, ceased to undertake contracts; but this shall not destroy or defeat any other remedy such per. n may have against the comp- pany in respect thereof or fo any other cause. 75.

Every receiver, assig ee or liquidator of a company Sta.ttments shall, until the affairs of the company are wound up and the ~~de eipt• accounts are finally closed, ithin seven days after the close ~~Pb' ~~~r•• of each month, file with t Court or other authority ap- by r ceiv•r pointing him, and also with he Treasurer, detailed schedules showing in such forms as ay be required receipts and ex­ penditures, and also asse and liabilities, and he shall, whenever, by the authori y appointing him or by th8 Treasurer, required so to o, exhibit the office books and vouchers, and furnish such ther information respecting the company's affaim as may e required; and any receiver, assignee or liquidator refusi g or neglecting to furnish such information shall, for each ffence, be subject to a penalty of not less than fifty dollar nor more than two hundred dollars, to be recovered on half of His Majesty for the usc of the Province; and he s mll in addition render himself liable to be dismissed or re oved.

PENAJjTIES. 76. Any ?irector, offi? r, agent, employee,_ or oth~r :i~:i!ltics person who lll contravent1 of the fourth

sectiOn of thiS sect+ 4 Act undertakes or effects, o agrees or offers, to undertake, or solicit, any contract, or ollects any premium, on behalf of any company, without he company being licensed or registered under this Act, r if such license or certificate of registration has been s spended or cancelled without renewal or revival thereof, shall be liable to a penalty of two hundred dollars fo every such contravention of this Act. 77. An7 violation of the ixty-fourth

section of this Act ~!:i:ities shall subJect the company iolating the same to a penalty •eeti~n 64 of two hundred dollars for very violation, and to an addi- tional sum of one hundred ollars for every month during which the company neglect to file such statutory declara- tion and statement as are t erein required; if such penalties are not paid, the Lieute ant-Governor-in-Council may order such company's licens to be suspended or cancelled, as may be deemed cxpcdien 78.

Any violation of s ction twenty-four of this Act Pena~y tor shall subject the company_ iol~ting the same to a penalty~~;::; "to of $25.00 for every such v1 latwn, to be recovered oh con- Beet. 24 viction therof before a justic of the peace. If such penalties are not paid the Lieutenant Governor-in-Council may order such company's license to b suspended or cancelled, as may be deemed expedient. An company, or any officer or agent of any company, cau ·ng any policy, interim receipt,

17 or other insuring document against fire loss to be printed, published or issued falsely bearing the words "Licensed under "The Alberta I nsura ce Act," or "Registered under The Alberta In.~urance Act,' as the case may be, or to the like effect, shall be liable t a penalty of $200.00 for each offence, such penalty to be r covered on conviction before a police magistmte, or two jus ices of the peace, or a judge of any district court. 7!). Any penalty imposed! by this Act, when recovered, ~;~t~~!;~~ shall belong to the Province M Alberta. 80.

All penalties iml?osed~ .y this Act rna~ be. recovered ;;.,ooc;l~~r:[o• by and before any pollee m gistrate or two JUStices of the penaiti•• peace; the information or co plaint shall be laid or made in writing within one year fro the commission of the offence. 81.

Except as hereinafter mentioned, it shall be deemed r:o?e"1·~~u~~~ an offence against this Act fo any person, firm or corporation in 1oor P1.any 1 . b . d h unel! •eenset to msure or cause to e I ure any property w atever, or··~ •tered real or personal, situate in or described in any policy, interim receipt, or insuring ocument as situate in any part. of Alberta against fire loss i any company not licensed or registered under the provisio s of "The Alberta Insurance Act." A fi t. d ffi f Pc"o s not 82. ny person, rn1 or c rpora wn, an every o cer o insuri o: with OJ' agent or employee of any such person, firm, or corpora- ~~·~,o~ r;pany tion having any 11ctual kno ledge of the facts, procuring ~~~;!• ;~~~ any insurance against fire on ny property, real or personal, uN'\\:', ath ot in Alberta, or described in any policy, interim receipt or ~"\tic ••s• insuring document as situate in any part of Alberta, in any;:~;;,~. 11 '. company not licensed or r gistered under "The Alberta f.~.\~t 111 Insurance Ad," shall forth ith, and not 'later than oneo~·p~~ ?~;e month from the effecting ol any such insurance or of the receipt of any such policy interim receipt or insuring ~ocument issued by or on be mlf of sueh insuring company, which ever shall be first in poi t of time, notify the Treasurer of the Province of Alberta in ¥riting under oath of the terms of such insurance, the comp ny with which such insurance is placed, and the amount of premium paid or payable or premium notes given or t be given, or mutual liability assumed in connection ther with, and shall pay to such Provincial Treasurer, for t e benefit of the Province of Alberta with such notice a m equal to fifty per cent. of the premium paid or payabl or premium note given or to be given, or mutual liabilit assumed, in connection with such insurance and shall be iable in an action brought by or in behalf of the Provincia Treasurer for the amount of the said fifty per sent. of any uch premium. 83.

It shall be competent for the Provincial Treasurer, ~b;~~~~·ou to or the Lieutenant-Governor-i -Council, on application made ~'t";:;~ 1 ';;ith by or on behalf of any person, firm, or corporatio!l, to per~t ~':.'ni: ~~~d contracts of msurance to b made or entered mto outside or 'iegi tere<l of Alberta with insurance com anies not licensed or registered um er et under the :,;aid Act, under such regulations and restric- tions as may be deemed exped ent. and necessary.

118 84. AU sums of money pa[ble to the Provtncial Treasur­ er under this Act, or under "The Alberta Insurance Act" or any amendments thereof shall be recovered by action in the proper court brought in the name of the Provincial Treasurer of Alberta, by his n me of office. 85.

The l:ieutena~t-Gove nor-in-qouncil, whenever he f!o0~~ ,:>;;1 Lieut~ont shall deem It expedient, m y appomt any one or more may" point qualified persons, not being o cers of any other fire insurance ~;~";;:l ~'into company, to examine into the affairs of any fire insurance !~"s~. ••• company doing business in this Province, and it shall be ~':,".;:~",. 'fee the duty of the officers or ents of any such company to cause its books to be opened or the inspection of the person or persons appointed, and ot erwise facilitate such examina- tions; and for that purpose such person or persons shall have power to examine, unde oath, such officers and agents; and whenever it shall appe from such examination that the assets and financial posi ion of such company are such as not to justify the contin ance in business of any such company, its license may b cancelled by the Treasurer, and in the case of a compan incorporated by or under any statute of this Province, the ttorney General may apply in a

summary mannflr, on moti n to a Judge of the Supreme Court of Alberta, for an or r requiring such compan:y to show 'cause why the busine of the company should not be closed; and the Court or J dge may thereupon proceed to Proco•!iu•• hear the allegations and pr ofs of the respective parties,~~.:;~: ies. and in case it shall appear to he satisfaction of the Court or :r~or:; ~a,.­ Judge that the assets and f mds of the company are not ~::U!i ~etory sufficient as aforesaid, or tha the interests of the public so require, the Court or Judge may decree a dissolution of said Company's affairs and ay appoint a receiver to take possession of, collect, and g t in the assets and effects of the said company, and may o der and direct that the affairs of the said company shall wound up under the order and direction of the Court, and do all other matters and things necessary or requisite n the premises. 80.

Such receiver shall hav full power, under the authori- ~~h'::~"'.! ity of a Judge of the Suprem Court of Alberta, to make all ;;~~i~lti"l,y such assessments on the pr mium notes or undertakings the co;r;;, held by the said company a may be necessary to pay its debts and claims against it, s the directors would have authority to make, and the notice of assessment may be given in the same manner as is hereinbefore provided; and the said receiver shall ha e the like rights and remedies upon and in consequence of t e non-payment of such assess- ments a~ are given to the co pany or the directors thereof, and such receiver may receiv a surrender of any policy of said company or cancel :=tn policy in all cases where the direcl,ors are authorized to receive the surrender of or cancel policies. 87.

The court or any jud e by which or whom such to"'"'"l'r receiver is appointed may also, upon his application, examine J;d';! o by a reference or otherwise, s it or he may deem proper, into the proceedings and act of said company in the two last preceding sections ref err d to; and if it shall appear upon such examination that t e directors or officers of such company, or any of them, ha e in any manner misapplied or improperly disposed of the funds, property or effects of such company, it shall he la" ul for the Court or Judge to

19 order and decree that such p~sons as may be found guilty of such misapplication or im roper disposition shall pay the amount thereof to such rece ver, and to enforce such order or decree by execution or by attachment, or by such process of the court as shall seem e edient. 88 Every company inc rporated by the LegislativeC"!"~'I,ation • of lU •rPRI Assembly of Alberta or lie nsed or registered under '' The ror r crvc I A " . b)." fl'ftobc Alberta nsurance ct, or ransactmg any u~Iness o 1 e mai~ ai11c<I insurance in this province, hall maintain a reserve for the l:i's~~ n"c protection of its policy hoi ers, computed on the basis of com me< the reserve required under t e provisions of ''The Insurance Act of Canada", for the tim being in force.

INSPECTION OF INSURANCE COMPANIES LICENSED BY THE PH<) VINCE 89. The Lieutenant-Govinor-in-Council may appoint an ~,;:.:~1~~~;,'d.,~~r officer to be called the super· tendent of insurance, who shall of in{urance act under the instruction of the Provincial Treasurer, and his duties shall includ examining into and. reporting . ~ . to the Provincial Treasure from time to time upon all H'"' utJce matters connected with ins ance in this province .Srtlnr~· 00.

The salary of the sutrintendent shall be such sum per annum as the Lieute nt-Governor-in-Council shall from time to time determine; and t.he Lieutenant-Governor- Depujty and in-Council may provide fro time to time such assistance ""''"''mt< as may be found necessary, and may appoint a deputy of such superintendent. 91.

The superintendent hall keep on file the various ~:.~.~~~'cnt• documents required by this ct to be filed in his office, and shall keep a record of all lie nses issued by the Provincial ~:;~~~of Treasurer and shall personall or by deputy, visit the head or ?hief office in Alberta of ev ry such company at least ?nee t,~;~i~ion m every year, and shall c efully examine the condition of ev ry d and affairs of each compa y and report thereon to the~~'::!.' 1n~e~':,rt Provincial Treasurer as to al matt.ers requiring his attention~,.;,: ~;!~cial and dedsion. 92.

In order to facilitate the inspection of an insurance ~'~f."tiT or company's books and paper , the company may be required v~~~ ~{ by t.he superintendent, with he approval of the Lieutenant- in 1 AI er~; Governor-in-Council, to pro uce the said books and papers at the head or chief offic of the insurance company in Alberta, or at such other c nvenient place as the superin- tendent may direct. The o cer or officers of the company who have custody of the bo ks shall be entitled to be paid by the company for the act l expenses of such attendance. 93.

The superintendent hall from such examination tonP1' 1 vt:~i~lt prepare and lay before the rovincial Treasurer an: annual Tre•• Irnr report of the condition of every company's business, asP br. 1. ascertained from such inspe tion, and such report may be th':.r~ I' mn published forthwith after the completion thereof. 94.

It shall be the duty f the officers or agents of the comp ny to OflicewB of company to cause their book to be open for the examination~~~~~; ~.ione of the superintendent, and o herwise to facilitate the exami- nation so far as may be in their power; and the superin- tendent or his deputy, shall have power to examine under ~,!:K,;~~d oath any offi0er or agent the company relative to its under[~ath business.

20 95. It shall also be the d ty of .the officers and. agents of rni:;'~ntion the company to furnish the supermtendent, on hts request, to !> furnished with full information as to t e total liability of the company, ff' ,~, .!'.,';.~!.';[ if an Alberta company, in respect of unearned premiums by h "' upon all outstanding unm ured policies, and if not an Alberta company, in respec of unearned premiums upon all its outstanding unmatu ed policies of insurance upon property in Alberta. 96.

A report of all.compa ies so inspected shall be entered :C;<;;i~·t~r in a book kept for that purp se, with notes and memoranda, he k~pt showing the condition of eac company; and where a special examinatio~ has been mad , a. s~ecial written repo:t shall Spec!' be commumcated to the P ovmcml Treasurer, statmg the ~xam nation superintendent's opinion o the . condition and financial~~~,? ular standing of the company' nd all other matters desirable oomp ny to be made known to the Pro incial Treasurer. 97.

Every director,. offic r, manager, agent, collector, fa~(~~~' auditor or employee of a co pany, who, knowingly makes or~~~.~ • sal assists to make any untrue entry in any of the company's ~o pc n:tit b k h f l t k lDRpe tmn, etr. oo s, or w o re uses or ne ects to rna e any proper entry therein, or to exhibit the arne or to allow the same to be inspected, and extracts to be taken therefrom, shall be guilty of an offence punishable, n

summary conviction before any police magistrate or tw justices of the peace, by a fine not exceeding fifty dollars, nd, in default of payment, by imprisonment for a term not exceeding six months. 98. If it appears to the ~erintendent that the assets of~~~~~n;'p~rt any company are not suffi ent to justify its continuance ~h~~ ny of business, or that the co any is unsafe for the public to unsou <I effect insurance with, he sh 1 make a special report on the affairs of the company to t e Provincial Treasurer to that effect. 9H.

After full consideratio of such report and a reasonable ~r"~:·~;'t,~on time being gi_ven .to the c.o pa~w t.o be heard, and if, after¥~~~~ .~~l , such further mqmry and m st1gatwn, (if an:y), as he may'"·"' r port to k th . . l T Lwut nant see proper to ma e, e ovmcm reasurer reports to Gove .wr in the Lieutenant-Governor-in Council that he agrees with Coun '1 the superintendent in the o inion expressed in his report, then, if the Lieutenant-Gov nor-in-Council also concurs in such opinion, an order in council may issue suspending or cancelling the license of the company, or prohibitingsuspe~si~n or h f d . h b . d h f eanecl at.wn t e company rom omg any urt er usmess, an t erea ter or lice •e it shall not be lawful for t e company to do any further business in Alberta, until t e suspension or prohibition is removed by the Lieutenant- overnor-in-Council. 100.

Notice of the suspens on or cancelling of any license, Puhlit•ion or prohibition from doing y further business, shall be or notre published in The Alberta Gazette; and thereafter any person trans~cti~g any .busi es.s in behalf of the company, Prohiljition except for wmdmg up Its a airs pursuan~ to this or any ~L.~~=~~~;" other Act, shall be deemed t have been gmlty of an offence punishable on

summary co viction before any justice of the peace by a fine not excee ing $25.00. 101. Wherever the affairs~ any insurance company doing In "P" i•1 business in Alberta appear t require the same, the superin- f;~:. ' 1 tendent, with the approval f the Lieutenant-Governor-in- ~'\ie r;.=~ Council, may, at the expense f the company, have abstracts8~~~~i 0 ~om value et.s aud lis iii ties

~1 prepared of its books and voichers and a valuation made of the :assets and liabilities.: an the certificate of the superin­ tendent, approved of by th Provincial Treasurer, shall be conclusive as to the expense to be paid by the company in respect thereof. 102. Neither the superintendent, nor any officer under ~r'ro~· t~ndeut hir~, shall.be interested as as areholder, directly or indirect-~1'h.":r~~~. ly, many msurance company. compa Y 103.

Towards defraying tJe expenses of the office of the ~od'~!~~"" superintendent a sum not ex eeding $5,000.00 shall be an-f:;;.r;:r~~r nually contributed by the companies required to whom office icenses have been granted un er this Act. 10<1. The amount to he ~annually contributed by the ~0';, ~r.·:••ed insurance companies under the provisions of the last ~~~~~~!es preceding

section shall be ass ssed pro rata and based on the gross annual premium incom as shown by the books of the several companies on the thi ty-first day of December next. preceding. 10.'). All sums payable un~er this Act to the Provincial ~hb':' ~:r;•en~ Treasurer shall be so paid b fore the issue of a renewal of the license, and, in any dispu ed case, the Provincial Treas- ~~~~l;.~·~i' or urer's certificate, or approval of an account certified by the Treasu er "" . to amo nt to supenntendent, shall, as to t e amount so payable hy each be nm usive or any company, be held to b conclusive.

IMPAIRMENT OF C-'\.Pl'l'AL 1-ND PAYMENT OF DIVIDENDS. 10«), Every company licens d to carry on the business of ~o:::~r~·:tn fire insurance or inland mari e insurance, or both, shall at asaffit~ t all times maintain assets in AI erta at least equal in value to F bF~ the total of the unearned p emiums upon all outstanding ~~o~~~ :arned unmatured policies upon pr perty in Alberta, calculated ~w·~~ :h~~ pro rata for the times unexpi ed, together with the amount habthti • of matured claims for losses i Alberta, and all its other liabilities of every kind in Alb ta. 10'i'.

No dividend :,;hall b~paid by any such company~~~i~~B while its paid up capital is i paired or while its assets are Fm:al~ ent less than the amount required by the next preceding section, of capt! 1 nor shall any dividend be pai which would reduce its assPts below the said amount or imp ir its capital. 108. If it appears to the su erintendent at any time that ~·l~l';;.f~r the assets of any such co.mpa y fall below the requirements ~~·:~·::,~~c'iv of

section lOu he shall report .he fact to the Treasurer, and state whether or nut the com any appears to him to have paid any dividend in contra ention of the last preceding section, and the Treasurer, af er a full consideration of the matter and after giving the c mpany a reasonable oppor- tunity to be heard, may eithe · recommend the cancellation of the company's license by the Lieutenant-Governor-in- Council, who may upon sue recommendation order the cancellation ·of the same, or t e Treasurer may, upon such c 11 t terms and conditions as he m y deem proper, limit a time !'r"~~~~~~ 1011 within which such company s all make good the deficiency, ~o~"'b~~'.:, ht up and upon the company's fai ure to make good such de- to st.and rd ficieney within the time so I mited, such license shall be cancelled by the Lieutenant- overnor-in-Council upon the report of the Treasurer .recomn ending the same.

:l!2 109. If at any time it be fa md that t~e assets of IJ:llY such ~~::."~per company are less than the a ount reqmred by

sectiOn 106, ~·nt. o tow, f h l lioenoe to be by an amount equal to twen per cent. or more 0 t e tota cancell d amount of the said unearned remiums, calculated as afore- ¥.'ti~!~ ~t or said, or that the company h paid any dividends in contra- vention of

section 107, it sha be the duty of the Treasurer to report the same to the Li utenant-Governor-in-Council, whereupon the company's lie nse shall be cancelled by order of the Lieutenant-Governor-· -Council. 110.

Chapter 7 of 2 3, cleorge V, intituled "The Hail Insurance Act," is hereby rep~led. 111. This Act shall come ~nto force on the first day of April, 19i3. SCHEDVLE. The following is the schedulb referred to in this Act:­

ScHEDULE A. (f3ection l<'ORM OJ<' DECLARATION TO !ACCOMPANY THE ANNUAL S'fATFjMEN'f.

We,...... . ................................... . and....... . ......... an ........................ . of. . . . . . . . . . . . . . . . . . com any, do solemnly declare that we are the above described fficers of the said company, and that we have, each of s individually the means of verifying the correctness of t e statement within contained (or hereunder annexed) of th affairs of the said company; and that, on the. . . . . . . ....... day of. . . . . . . . .last, all the above described asse were the absolute property of the said company, free and clear from any liens or claims thereon, except as above st ted, and that the foregoing statement, with the schedul s and explanations hereunto annexed and by us subscribe are a full and correct exhibit of all the liabilities, and of the income and expenditure, and of the general conditions and affairs, of the said com­ pany, on the said. . . . . . . . . . . . . .. day of. . . . .last, and for the ........ :. .ye rending on that day.

And we make this solem declaration conscientiously believing it to he true, and k owing that it is of the same force and effect as if made nder oath, and by virtue of "The Canada E11idence Act, 18 3." Declared before me at the . . . . . . . .. this .. day of. . .. A.D. 19 ... I· .. Title: 1913 (2nd, 4th) Bill 87,

An Act to amend

Chapter 55 of the Statutes of Alberta, 1910, which amends the Act to Incorporate the Lacombe and Blindman Valley Electric Railway Company