Bill ID 5404 (Legislature 17, Session 3)

L17 S3 5404

Alberta — Bills

1974 Bill PR Third Session, 17th Legislature, 23 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL PR

An Act to Incorporate Stockgrowers Insurance Company of Canada Ltd. MR. GHITTER First Reading Second Reading ............................. . Third Reading Printed by· L. S. WALL, Queen's Printer for the Province of Alberta, EDMONTON

Preamble

Short title Incorpor ation Direotors Capital stock Subscription Bill pR l' Mr. Ghitter BILL PR

AN ACT TO INCORPORATE STOCKGROWERS INSURANCE COMPANY OF CANADA LTD. (Assented to , 1974) WHEREAS the persons hereinafter named have by their petition prayed that it be enacted as hereinafte~ ~et forth, and it is expedient to granJt 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. This Act may be cited as The Stockgrowers Insurance Company of Canada Ltd. Act. 2. Richard A. N. Bonnyc3Jstle, financial consultant, of Calgary, in the Province of Alberta, John M.

Dodds, insur ance manager, of Priddis, in the Province of Alberta, George MacKay, insurance consuUant, of Bassano, in the Province of Alberta, Donald C. Matthews, rancher, of Rural Route No.1, Calgary, in the Province of Alberta and John J. Owens, cattle sales manager, of Rural Route No.2, Calgary, in the Province of Alberta, all being of the full age of eighteen years, together with ,such person as may be come Ishareholders in the company, are incorporated under the name of Stockgrowers Insurance Company of Canada Ltd., hereinafter called "the company". 3. The persons named in

section shall be the provisional directors of the company. ~. 'The capi~l stock of the company shall be $1,000,000, whIch may be Increased to $5,000,000, divided into shares of $10 each. 5 ..

(1) The amount to be subscribed before the general meetIng for the election of directors is called shall be $750,000. Commence ment of business Head office Class of business RS.A.1970, c. 60 Commence ment of Act

(2) Unless the company applies for a licence under The Alberta Insurance Act within two years aflter the commence ment of this Act or within such extended period not exceed ing one 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 affaiDs of the company and returning to the sub scribers the amount paid by them upon the sub scribed stock or so much thereof as they may be en titled to. 6. The company shall not commence business unrtil the amount of the capital stock required by

section of The Alberta Insurance Act has been 'Subscribed and paid. 7. The head office of the company shall be in the City of Calgary, in the Province of Alberta. 8. The company may make contracts of livestock insur ance 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 kinds or classes. 9.

Sections to of The Companies Act apply to the company. 10. This Act comes into force on the day upon which it is assented to. 2 Title: 1974 (17th, 3rd) Bill Pr7,

An Act to Incorporate Stockgrowers Insurance Company of Canada Ltd.

Document details

Collection	Alberta — Bills
Citation	L17 S3 5404
Type	bill
Volume / chapter	L17 S3 5404
Language	en
Format	json
Source	PROVINCIAL
Identifier	923c5289499ecfda09c6efa4b52fd91600c0c901

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