Bill 73 (Legislature 7, Session 2)

L7 S2 8812

Alberta — Bills

BILL No. 73 of 1932.

An Act to amend The Alberta Insurance Act, 1926. (Assented to , 1 Y']2.) HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. This Act may be cited as "Ths Alberta Insumnce Act, 1926, Amendment Act, 1932." 2. The Alberta Insurance Act, being

chapter :n of the Statutes of Alberta. 1926, is hereby amended as to

section thereof by striking out the ,',-ord "fire" where the same occurs therein and by substituting therefor the "\Yord "any." 3. The said Act is further amended as to

section thereof, by striking out the words "against fire" where they occur in clause (

b) thereof. 4. The said Act is further amended by inserting therein, immediately after

section thereof, the following new section: "287.

A policy may contain a limitation of liability clause or clauses to the effect that the insurer shall pay only an agreed proportion of any loss which may be sustained to the crops covered by the policy, and either alternatively or additionally to the foregoing to the effect that in the event of there being any other insurance covering the same crops the insurer shall not be liable for more than its pro mta, proportion of a specified amount in which case there shall be printed or ~tamped on the face of the policy, in conspicuous type and in red ink, the words 'This policy con tains a limitation of liability clause,' and such clause or clauses shall not be deemed to be a variation of any of the statutory conditions." 5.

The said Act is further amended as to

section thereof by adding thereto as subsection (2), ·the following: "

(2) A fraternal society licensed under this Act- "(

a) having more than five thousand members in the insurance department; and "(

b) having filed with the Superintendent for at least three successive years a declaration of an actuary as provided by

section 402- may, if its constitution so provides, and subject thereto, issue to its members endo\vment insurance contracts pro viding for the payment of the insurance money to them at the expiration of twenty years or more from the date of such contracts, or to the beneficiary or beneficiaries under any of such contracts in case of death of any of the mem bers prior to the expiration of the endowment period." No. 73. SECOND SESSION SEVENTH LEGISLATURE GEORGE V BILL

An Act to amend The Alberta Insurance Act, 1926. ~-_~_"-~-~.~=-C=--~_ ~ =~ =~ ===== Received and read the First time .................... . Second time ................... . Third time .................... . HON. MR. REID EDMONTON: W. D. McLEAN, KING'S PRINTER Title: 1932 (7th, 2nd) Bill 73,

An Act to amend The Alberta Insurance Act, 1926

Document details

Collection	Alberta — Bills
Citation	L7 S2 8812
Type	bill
Volume / chapter	L7 S2 8812
Language	en
Format	json
Source	PROVINCIAL
Identifier	eef15c197fe74ced267d730085f97f6e3e5fff13

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