Bill 7 (Legislature 15, Session 1)

L15 S1 1584

Alberta — Bills

No.7 1st Session, 15th Legislature, Alberta 12 Elizabeth II BILL 7 A Bill to Incorporate Financial Life Assurance Company MR. GERHART PrlDlted by L. S. WALL. Printer to the Queen's Most Excellent Majesty, Edmonton, Alberta, 1964

Explanatory Note

Section 130, subsection (6) of The Alberta Insurance Act provides that shares in an insurance company shall be divided into shares of one hundred dollars each but

section 130, subsec tion (1) provides that subsection (6) shall be operative unless it is otherwise provided in the special Act.

Preamble Incorpor ation Directors Capital stock Subscription Commencement ot busine8S Head office BILL No.7 of 1964

An Act to Incorporate Financial Life Assurance Company (Assented to WHE'REAS 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 said Petition: THEH'EFORE, Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. Gordon H. Pearce, Life Underwriter, Clifford A. Ken nedy, Life Underwriter, Robert D. McDonald, Branch Secretary, Robert L. Brower, Barrister and Solicitor and Willia'm A.

Johnson, Barrister and Solicitor, all of the City of Edmonton, in the Province of Alberta, together with such persons as become shareholders in the Company, are incorporated under the name of Financial Life Assurance Company, hereinafter called "the Company". 2. The persons named in

section 1 of this Act shall be the provisional directors of the Company. 3.

(1) The capital stock of the Company shall be one million, five hundred thousand dollars, which may be in creased to two million, five hundred thousand dollars.

(2) The capital stock of the Company shall be divided into shares of a par value of ten dollars each. 4. The amount to be subscribed before the general meet ing for the election of Directors is called shall be two hundred and fifty thousand dollars. 5. The Company shall not commence business until the amount of the capital stock required by

section 34 of The Alberta Insurance Act has been subscribed and paid. 6. The head office of the Company shall be in the City of Edmonton, in the Province of Alberta.

Contracts The Com panies Aot The AZberta Insuranoe Act

Short title Commencement ot Act 7.

The Company is hereby empowered to carryon and engage in the business of participating and non-participat ing life insurance in all its usual requisite and incidental forms including, but not so as to restrict the generality of the foregoing, whole life, limited pay-life, endowment, term, annuities, double indemnity, income disability, waiver dis ability, guaranteed insurability option, reinsurance, group life, group sickness and accident, group double indemnity, group weekly indemnity, group monthly indemnity, group pension, group dental, group hospitalization, group compre hensive and group maj or medical. 8.

Sections 62 to 67 inclusive of The Companies Act apply to the Company. 9. The Alberta Insurance Act and amendments thereto shall apply to the Company. 10. This Act may be cited as "The Financial Life Assur ance Company Act". 11. This Act comes into force on the day upon which it is assented to. 2

No.7 FIRST SESSION FIFTEENTH LEGISLATURE 12 ELIZABETH II 1964 BILL

An Act to Incorporate Financial Life Assurance Company Received and read the First time Second time Third time ..................................... . MR. GERHART Title: 1964 (15th, 1st) Bill 7,

An Act to Incorporate Financial Life Assurance Company

Document details

Collection	Alberta — Bills
Citation	L15 S1 1584
Type	bill
Volume / chapter	L15 S1 1584
Language	en
Format	json
Source	PROVINCIAL
Identifier	e7dde4d8e6140dbf46e98f181a338631b7a75768

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