Bill ID 3785 (Legislature 20, Session 1)

L20 S1 3785

Alberta — Bills

1983 BILL PR First Session, 20th Legislature, 32 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL PR PARAMOUNT LIFE INSURANCE COMPANY AMENDMENT ACT, 1983 MR. MUSGREAVE First Reading Second Reading Committee of the Whole Third Reading Royal Assent • • Bill PR Mr. Musgreave BILL PR 9 PARAMOUNT LIFE INSURANCE COMPANY AMENDMENT ACT, 1983 (Assented to , 1983)

WHEREAS Paramount Life Insurance Company was incorporated by

chapter of the Statutes of Alberta, 1964, which was amended by

chapter of the Statutes of Alberta, 1965 and

chapter of the Statutes of Alberta, 1981; and

WHEREAS Paramount Life Insurance Company has presented a petition praying that the Act be further amended as herein set fodh, and it is expedient to grant the prayer of the petition; THEREFORE HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1 The Paramount Life Insurance Act is amended by this Act. 2

Section is amended (

a) by repealing subsection (1) and substituting:

(1) The capital stock of the Company shall be $18 000 consisting of 6 000 common shares with a par value of $3 each, and (

b) in subsection (2) by striking out "$43 000 000" and sub stituting "$58 000 000". In accordance with

section 4(1) of the

Interpretation Act, this Bill comes into force on the date it receives Royal Assent. 1 Explanatory Notes This Bill will amend

chapter of the Statutes of Alberta, 1964. 2

Section 3(1) and (2) presendy read: 3(1) The capital stock of the Company shall be $3 000 consisting of 600 common shares with a par value of $5 each.

(2) The directors of the Company may, by resolution, increase the capital stock of the Company from time to time, to a maximum of $43 000 by authorizing the issue of preferred shares to a maximum of (a) 200 first preferred shares having a par value of $100 each; and (b) 200 second preferred shares having a par value of $100 each. Title: 1983 (20th, 1st) Bill Pr9, Paramount Life Insurance Company Amendment Act, 1983

Document details

Collection	Alberta — Bills
Citation	L20 S1 3785
Type	bill
Volume / chapter	L20 S1 3785
Language	en
Format	json
Source	PROVINCIAL
Identifier	500ca00c89a11653b3d42670c52bcfe4fb3c1b22

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