Bill ID 5398 (Legislature 17, Session 3)

L17 S3 5398

Alberta — Bills

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

An Act to Incorporate Alberta Motor Association Insurance ComDanv MR. KING First Reading .. '.' .......................... . 8econd Reading ............................ . Third Reading Printed by L. S. WALL, Queen's Printer for the Province of Alberta, EDMONTON Pi"eam.ble

Short title Incorpo ration Directors Capital stock Bill PR Mr. King BILL PR

AN ACT TO INCORPORATE ALBERTA MOTOR ASSO'CIATION INSURANCE COMPANY (Assented to , 1974) WHEREAS 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 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 Alberta Motor Associa tion Insurance Company Act. 2. Bernie Brown, Retired Businessman; Bruno Dale, Executive; Douglas D. Hollands, Chartered Accountant; George A. MacDonald, Executive; and Kenneth W.

Quinn, Businessman; all of the City of Edmonton, in the Province of Alberta, and Glenn E. Lockwood, Retired, of the City of Calgary, in the Province of Alberta, and Stanley C. James, Optometrist, of the City of Medicine Hat, in the Province of Alberta, together with such persons as become share holders in the Company, are incorporated under the name of ALBERTA MOTOR ASSOCIATION INSURANCE COMPANY, hereinafter called "the Company". 3. The persons named in

section shall be the provisional directors of the Company. 4.

(1) The capital stock of the Company shall be $1,200,- 000 which may be increased to $4,000,000.

(2) The capital stock of the Company shall be divided into shares of a par value of $100 each. Subscription 5.

(1) The amount to be subscribed before the general meeting for the election of directors is called shall be $100,000. Commencement of business Headoff.ice Class of business R.S.A.1970 c.60 Coming into force

(2) Unless the Company applies for a licence under The Alberta Insurance Act within two years after the commence ~ent 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 af fairs, of the Company and returning to the sub scribers the amounts paid by them upon the sub scribed stock or so much thereof as they may be entitled to. 6. The Company shall not commence business until the amount of 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 Edmonton, in the Province of Alberta. :8. The Company is hereby empowered to carryon and engage in the business of entering into contracts of insur ance of all classes and kinds, except life insurance, and against contingencies of all descriptions or by way of guarantee or surety and may reinsure and do all acts and things, which are requisite for the purpose of engaging in or carrying on the business of insurance in such kinds and 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 l.ssented to. 2 Title: 1974 (17th, 3rd) Bill Pr1,

An Act to Incorporate Alberta Motor Association Insurance Company

Document details

Collection	Alberta — Bills
Citation	L17 S3 5398
Type	bill
Volume / chapter	L17 S3 5398
Language	en
Format	json
Source	PROVINCIAL
Identifier	f52e2dea2cd0a7c95926482ad0c09c4b88b006bd

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