Bill 6 (Legislature 13, Session 3)

L13 S3 6243

Alberta — Bills

- No.6 3rd Session, 13th Legislature, Alberta 5 Elizabeth II, 1957 BILL 6 A Bill to amend

An Act to Incorporate the Merchants and Traders Assurance Company MR. MACDoNALD (Private Bill) - EDMONTON,ALBERTA Printed by A. SHNITKA, Printer to the Queen's Most Excellent Majesty, 1957

Explanatory Note

Section 1 presently reads: "1. The persons hereinbefore named and all such persons as shall become shareholders of the said company shall be and are hereby constituted and declared to be a body cOl'porate and politic in law and in fact under the name and style of the "Merchants and Traders Assurance Company" for effecting insurance in the Province of Alberta or elsewhere in the.

Dominion of Canada against losses by fire, light ning, rain, hail or wind; and for effecting accident insurance, auto mobile insurance, liability insurance, fidelity insurance, guarantee insurance, burglary insurance, inland marine insurance, inland trans portation insurance, plate glass insurance, live stock insurance and sickness insurance and doing all things appertaining thereto or con nected tberewith and as such to have perpetual succession with a corporate seal and power from time to time to make, alter, break or change the same and shall be capable in law of contracting and being contracted with, of suing and being sued, of pleading and bt'ing impleaded with in any court of law or equity,"

BILL No.6 of 1957

An Act to amend

An Act to Incorporate the Merchants and Traders Assurance Company (Assented to , 19.57)

WHEREAS a petition has been presented praying for

Preamble the amendment of the Act incorporating the l\lerch- ants and Traders Assurance Company, being

chapter 50 of the Statutes of Alberta, 1917, as therein set forth; and

Whereas it is expedient to grant the prayer of the said petitioner: Therefore, Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1..

An Act to Incorporate the Merchants and Traders Assurance Company, being

chapter 50 of the Statutes of Alberta, 1917, is hereby amended.

Section 1 is struck out and the following is substi- ~~~:~~~i tuted: "1.. The persons hereinbefore named and all such persons In~orpor as shall become shareholders of the said company shall be atlOn and are hereby constituted and declared to be a body cor- porate and politic in law and in fact under the name and style of the "l\lerchants and Traders Assurance Company" for effecting (contracts of insurance with any person or persons, or bodies politic or corporate in respect of all classes of insurance except life insurance, and without limiting the generality of the foregoing for effecting all classes of insurance mentioned in

section 19 of this Act,) and doing all things appertaining thereto or connected therewith and as such to have perpetual succession with a corporate seal and power from time to time to make, alter, break or change the same and shall be capable in law of contracting and being contracted with, of suing and being sued, of pleading and being impleaded with in any court of law or equity.".

Section 19 is struck out and the following is substi- :~d19 tuted:

Section 19 presently reads as follows: "19. The company shall have power to mak~ and .effect contracts of insurance with any person or persons, or bodies pohtlC or corporate "(

a) Against loss or damage by fire, lightning, hail or wind to any houses stores, factories, mills or other buildings whatsoever, or to ~ny goods, chattels, bridges or personal effects whatso ever or to any growing trees, shrubs or crops and to enter into' contracts of sprinkler leakage insurance; "(

b) Against loss or damage by death, disease, fire, lightning or other accident or casualty to any live stock. "(

c) And without prejudice to the generality of the foregoing the company may carryon the business of fire insurance, accident insurance, sickness insurance, automobile insurance, live stock insurance, hail insurance, liability insurance, guarantee in sur ~nce, fidelity insurance, burglary insurance, inland marine ll1surance, inland transportation insurance, and plate glass insurance and anyone or more of them, or all of them in all or any of their branches. "Subject to the provisions contained in

section 26 of this Act the meaning to be given to the various kinds of insurance herein referred to is as defined by The Alberta Insurance Act, 1915, all of which contracts of insurance may be made for such time or times, and for such premiums B,nd considerations and under such modifications and restrictions and upon such conditions as are bargained and agreed upon and set forth by and between the company and insured and the company may do all things appertaining thereto or connected therewith. "

(2) The company may also cause itself to be insured against any risks it may have undertaken in the course of its business. "

(3) The company may also undertake the reinsurance of the risks of other companies. "

(4) The company may also undertake to act as agents for or as representatives of other companies dOing business of a like or similar nature."

'2 "19.

(1) The company shall have power to make and Powers of if t t t f · ·th company e ec con rac s 0 Insurance WI any person or persons, or bodies politic or corporate (in respect of all classes of insurance except life insurance). ("

(2) Without restricting the generality of the foregoing the company shall have power to make and effect contracts of insurance with any person or persons, or bodies politic or corporate in respect of the following classes of insurance: accident insurance, aircraft insurance, automobile insur ance, boiler and machinery insurance, burglary insurance, civil commotion insurance, credit insurance, earthquake insurance, employer's liability insurance, explosion insur ance, fire insurance, fidelity insurance, forgery insurance, guarantee insurance, hail insurance, inland marine insur ance, inland transportation insurance, liability insurance, livestock insurance, marine insurance, personal liability insurance, plate glass insurance, property damage insur ance, public liability insurance, sickness insurance, sprinkler leakage insurance, steam boiler insurance, theft insurance, tornado insurance, use and occupancy insurance, water damage insurance, weather insurance, and workmen's compensation insurance, and any other classes of insur ance now or hereafter defined or authorized by The Alberta Insurance Act, except life insurance.) ("

(3) And further without limiting the generality of the foregoing the company shall have power to make and effect contracts of insurance with any person or persons, or bodies politic or corporate in respect of the following perils or any of them: burglary, collapse of landscape, civil commotion, earthquake, explosion, fire, falling objects, hail, inlpact by aircraft or vehicles, lightning, malicious damage, riot, rupture or freezing, smoke, theft, water escape, windstorm and damage to or destruction of pro perty and loss of business by any and all perils not specif ically described.) to

(4) Subject to the provisions contained in

section 26 of this Act the meaning to be given to the various kinds of insurance herein referred to is as defined by The Alberta Insurance Act, all of which contracts of insurance may be made for such time or times, and for such premiums and considerations and under such modifications and re strictions and upon such conditions as are bargained and agreed upon and set forth by and between th.e company and the insured and the company may do all thIngs apper taining thereto or connected therewith. "

(5) The company may also cause itself to be insured against any risks it may have undertaken in the course of its business. "

(6) The company may also undertake the reinsurance of the risks of other companies.

3 "

(7) The company may also undertake to act as agents for or as representatives of other companies doing busi ness of a like or similar nature.". 4. This Act comes into force on the day upon which ci °tmifng it is assented to. n ° orce

THIRD SESSION THIRTEENTH LEGISLATURE 5 ELIZABETH II 1957 BILL

An Act to amend

An Act to Incor porate the Merchants and Traders Assurance Company Received and read the First time ......................................... . Second time ................... . Third time ............. .. Mao MACDoNALD Title: 1957 (13th, 3rd) Bill 6,

An Act to amend

An Act to Incorporate the Merchants and Traders Assurance Company

Document details

Collection	Alberta — Bills
Citation	L13 S3 6243
Type	bill
Volume / chapter	L13 S3 6243
Language	en
Format	json
Source	PROVINCIAL
Identifier	ec78c80ff27932110fdbdb3dab2f1bd2497418ca

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