Bill ID 4302 (Legislature 19, Session 1)

L19 S1 4302

Alberta — Bills

1979 BILL PR First Session, 19th Legislature, 28 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL PR THE STOCKGROWERS' INSURANCE COMPANY OF CANADA LTD. ACT MR. D. ANDERSON First Reading Second Reading Committee of the Whole Third Reading Royal Assent Printed by the Queen’s Printer for the Province of Alberta, EDMONTON Title: 1979 (19th, 1st) Bill Pr4, The Stockgrowers' Insurance Company of Canada Ltd. Act Bill Pr Mr. D. Anderson BILL PR THE STOCKGROWERS' INSURANCE COMPANY OF CANADA LTD. ACT (Assented to , 1979)

PreambleWHEREAS 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 of the Legislative Assembly of Alberta, enacts as follows:

Definitions1. In this Act, “Company” means the company incorporated by

section 2. Incorporation2. Richard A. N. Bonnycastle, financial consultant, of Calgary, John M. Dodds, insurance manager, of Olds, George MacKay, insurance consultant, of Bassano, Donald C. Matthews, rancher, of Calgary, and James S. Palmer, solicitor, of Calgary, together with such persons as may become shareholders in the Company, are incorporated under the name of Stockgrowers’ Insurance Company of Canada Ltd. Directors3. The persons named in

section shall be the provisional directors of the Company. Capital stock 4. The capital stock of the Company shall be $1 which may be increased from time to time, but may not exceed $5 000 000, divided into shares of $10 each. Subscription5.

(1) The amount to be subscribed, before the general meeting for the election of directors is called, shall be $750 000.

(2) Unless the Company applies for a licence under The Al berta Insurance Act within 2 years atfer the commencement of this Act or within such extended period not exceeding one year as the Lieutenant Governor in Council allows: (

a) the Company shall not be licenced 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. Commence ment of business 6. 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 office7. The head office of the Company shall be in the Town of Olds. Class of business8. The Company may make contracts of livestock insurance and public liability insurance and such other classes of insurance, other than life insurance, as may seem to the Company capable of being carried on in connection therewith or in addition thereto, and may do all acts and things which are requisite, incidental or conducive to the carrying on of the business of insurance of such classes. Application of The Com panies Act 9.

Sections and of The Companies Act apply to the Company. 1974, c. 84 10. The Livestock Insurance Company of Canada Ltd. Act is repealed. Coming into force 11. This Act comes into force on the day upon which it is assented to. 2 Title: 1979 (19th, 1st) Bill Pr4, The Stockgrowers' Insurance Company of Canada Ltd. Act

Document details

Collection	Alberta — Bills
Citation	L19 S1 4302
Type	bill
Volume / chapter	L19 S1 4302
Language	en
Format	json
Source	PROVINCIAL
Identifier	6c5387bdfdb00aa729ac267fd1bb4d86d28b272c

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