Bill ID 2355 (Legislature 23, Session 1)

L23 S1 2355

Alberta — Bills

1993 BILL Pr17 First Session, 23rd Legislature, 42 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL Pr17 CANADIAN HEALTH ASSURANCE CORPORATION ACT MR. JACQUES First Reading Second Reading Committee of the Whole Third Reading Royal Assent Title: 1993 (23rd, 1st) Bill Pr17, Canadian Health Assurance Corporation Act Bill Pr17 Mr.

Jacques BILL Pr17 CANADIAN HEALTH ASSURANCE CORPORATION ACT (Assented to , 1993) WHEREAS the persons hereinafter named have by their petition prayed that it be enacted as hereinafter set forth, and it is expedient to grant the prayer of the petition; HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: Incorporation1 Dwight I. Bliss, solicitor resident in the City of Edmonton, and Gerald D.

Chipeur, solicitor resident in the City of Edmonton, together with such persons as become shareholders in the corporation, are incorporated under the name Canadian Health Assurance Corporation, hereinafter called "the corporation". Directors2 The persons named in

section shall be the initial directors of the corporation. Capital Stock3(1) The capital stock of the corporation shall be $1 000 000, or such other amount which is not inconsistent with the Insurance Act, but may not exceed $100 000 000.

(2) The amount to be subscribed before the first general meeting for the election of directors, if called, shall be $1 or such other amount as may be designated by the directors.

(2) The amount to be subscribed before the first general meeting for the election of directors, if called, shall be $1 or such other amount as may be designated by the directors. 1 Powers The corporation shall have all of the powers of a natural person that are not inconsistent with the Insurance Act and shall only exercise its powers in a manner consistent with the Insurance Act and this Act. Class of Business 5(1) Subject to

section 4, the corporation is empowered to carry on and to engage in the business of entering into contracts of insurance of all classes and kinds, and may do all acts and things which are requisite for the purpose of engaging in or carrying on the business of insurance in such kinds and classes, provided that the corporation shall not have the power to transact the business of fire insurance.

(2) Unless the corporation applies for a license under the Insurance Act within 2 years after the commencement of this Act or within such extended period not exceeding 1 year as the Lieutenant Governor in Council may allow, (

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

b) this

section ceases to be in force.

(3) The corporation shall not commence business until the amount of capital stock required by

section of the Insurance Act has been fully subscribed and paid. Head Office6 The head office of the corporation shall be located in the City of Edmonton, in the Province of Alberta or such other location in the Province of Alberta as may be designated from time to time by the directors of the corporation. Application of the Companies Act Sections to of the Companies Act apply to the corporation. 2 Title: 1993 (23rd, 1st) Bill Pr17, Canadian Health Assurance Corporation Act

Document details

Collection	Alberta — Bills
Citation	L23 S1 2355
Type	bill
Volume / chapter	L23 S1 2355
Language	en
Format	json
Source	PROVINCIAL
Identifier	490ffa470f2c7b8258f9fc2601cf34501f6e1c37

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