Bill ID 3159 (Legislature 21, Session 2)

L21 S2 3159

Alberta — Bills

1987 BILL Pr Second Session, 21st Legislature, 36 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL Pr FIRST CANADIAN INSURANCE CORPORATION ACT MR. MITCHELL First Reading Second Reading Committee of the Whole Third Reading Royal Assent Bill Pr Mr.

Mitchell BILL Pr FIRST CANADIAN INSURANCE CORPORATION ACT (Assented to , 1987) Incorporation 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; THEREFORE HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1 Donald Harold Wheaton, businessman, Marion Wheaton, businesswoman, Donald Albert Wheaton, businessman, Bryan O'Connell, chartered accountant, Jerry Flaman, lawyer, all of the City of Edmonton, together with such persons as become shareholders in the company, are incorporated under the name of First Canadian Insurance Corporation hereinafter called "the company".

Directors Thc pcrsous named in

section shall be the provisional directors of the company. capttai stock j^^ ^.^pj^^j ^^^^^ ^^ ^j^^ compauy shall be $2 which may be increased from time to time but may not exceed $5 000 000, divided into shares of $10 each. Subscription 4(1) j^^ amount to be subscribed before the general meeting for the election of directors if called shall be $1 000 000.

(2) Unless the company applies for a licence under the Alberta 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 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 the company and returning to the subscribers the amounts paid by them upon the subscribed stock or so much thereof as they may be entitled to. Commencement g of business The company shall not commence business until the amount of the capital stock required by

section of the Albert Insurance Act has been subscribed and paid. Head office Q xhc hcati officc of the company shall be in the City of Edmonton, in the Province of Alberta. Class of business J^Q compauy Is cmpowereti to carry on and 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. compaSi ^ Sections to of the Companies Act apply to the company. Title: 1987 (21st, 2nd) Bill Pr1, First Canadian Insurance Corporation Act

Document details

Collection	Alberta — Bills
Citation	L21 S2 3159
Type	bill
Volume / chapter	L21 S2 3159
Language	en
Format	json
Source	PROVINCIAL
Identifier	67aa9b8f45a1602ebaeeeea985aa444e12d04e5d

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