Bill 79 (Legislature 2, Session 3)

L2 S3 10784

Alberta — Bills

BILL No. 79 of 1912.

An Act resp~cting Hail Insurance. (Assented to 1912.) HIS MA.mSTY, by and with ill~· advice and consent of;~he . Legislative Assembly qf! the Province of Alberta, enacts as follows: 1. This .AICt may be~ cited as "'l!he IJizil Insttranu~ Act."' Citation 2..

Notwithstanding any law in;·Jorce:'in tHe pro-*nce,; no ~f'h'.illrat~on co~p!l'ny slbJ.ll carry oii ~he busir~e5s o~ i!Isuraiice against ~ss ::~~.':.i:~: OI''lllJW'Y td crops by hatl exceptltl;'g wtth: the approval ofthe Lieutenant GoveUor im Council; but, subiect to~such appr~al, any such company miiy, upon complying with ~the provis,pns of The Companies Ordinance 'or The Foreign Companies Otd-i nance, as the case may Be, carey on such bti.siness:within ~btirta during the period for which such approval may: be given. . 3 ..

Before~' such appmval is given to any company the P.ro-Deposit.byo vincial Treasurer shall have such inquiry made into the financial cocapame•· status of the company as shall seem necessary to establish to his satisfaction that the company may reasonably be expected to be able to indemnify all policy holders to whom payments may from time .to time become due, and shall also require such company to deposit with him the sum of $5,000 or its equivalent value in the form of a deposit receipt in his favour issued by any chartered bank doing business in the province, or in the securities of any municipality or school district in the province, such deposit being held by the Provincial Treasurer to be applied in his discretion in the settlement of any claim for indemnity against the company which may be established to his satisfaction, and which the company may not have. paid. 3.

Any company which may be given authority to carry on Returno the business of insurance against hail in the manper herein before provided shall furnish the Provincial Treasurer with any information he may require, duly verified l:iy statutory declaration respecting the operations of the company during the period for which such authority may have been given. 4. There shall from time to time be published in The Alberta Publication Gazette the names of all companies authori;..ad to operate under the provisions of this Act. 5.

Chapter of the Statutes of 1910 (Second Session), Repeal intituled

An Act respecting Hail Insurance, is hereby repealed. No. 79 THIRD SESSION SECOND LEGISLATURE GEORGE V BTTJ.,

An Act respecting Hail Insurance. Received and read the First time ••....••.•.....•...•• Second time .......•••••.•..•. Third time. ~ . . . . • . . . • • • . . . . . . . HoN. A. L. SIFToN EDMONTON: JAKES E. RICHARDS, Government Printer . A..D. 1912 Title: 1911 (2nd, 3rd) Bill 79,

An Act respecting Hail Insurance

Document details

Collection	Alberta — Bills
Citation	L2 S3 10784
Type	bill
Volume / chapter	L2 S3 10784
Language	en
Format	json
Source	PROVINCIAL
Identifier	cc63b95c0e5f35954130cbf7a80b13cc7743e62d

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