Bill 2 (Legislature 15, Session 2)

L15 S2 1439

Alberta — Bills

No.2 2nd Session, 15th Legislature, Alberta 13 Elizabeth II BILL 2 A Bill to amend The Paramount Health & Accident Insurance Company Act MR. SIMPSON Printed by L. S. WALL, Printer to the Queen's Most Excellent Majesty. Edmonton, Alberta, 1965

Preamble Amends 1964, c. 136

Long title amended Sedion 1 amended

Section 3 ( 1 ) amended BILL No.2 of 1965

An Act to amend The Paramount Health & Accident Insurance Company Act (Assented to , 1965)

WHEREAS the Paramount Health & Accident Insurance Company was incorporated by Private Act being chap ter 136 of the Statutes of Alberta, 1964, and is desirous of adding to its objects the right to engage in the b?sin~ss of Life Insurance in all its forms, and to changIng I.tS name to "Paramount Life Insurance Company".

WHEREAS the Company hereinafter named has by ~ts Petition prayed that it be enacted as hereinafte.r set ~~rth, and it is expedient to grant the prayer of the saId PetItIOn: THEREFORE Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. The Paramount Health & Accident Insurance Com pany Act is hereby amended. 2. The

long title of the Act is amended by striking out the words "Health & Accident" and by substituting the word "Life".

Section 1 is amended by striking out the words "Health & Accident" and by substituting the word "Life".

Section 3 is amended by striking out subsection (1) and by substituting the following: Capital stook 3.

(1) The capital stock of the Company shall be three million dollars.

Section 5 amended

Section 5 is amended by renumbering the

section as subsection (1) and by adding the following after the re numbered subsection (1):

(2) In addition to the original requirements. for the Company's health and accident insurance business, the Company shall not engage in the business of life insurance until subsection (2) of

section 34 of The Alberta Insurance Act has been complied with.

Section 7 amended

Section 10 amended

Section 7 is amended by adding the following clause after cIa use (b): (

c) to engage in and carryon the business of life insurance in aU its forms,

Section 10 is amended by striking out the words "Health & Accident" and by substituting the word "Life" 0 Commence- 8 ThIoS A toO t f th d hO h ment of Act 0 0 .cc mes In 0 orce on e ay upon w Ie It IS assented too 2

No.2 SECOND SESSION FIFTEENTH LEGISLATURE 13 E'LIZABETH II 1965 BILL

An Act to amend The Paramount Health & Accident Insurance Company Act Received and read the First time ......................................... . Second time ....................................... . Third time ........................................ . MR. SIMPSON Title: 1965 (15th, 2nd) Bill 2,

An Act to amend The Paramount Health and Accident Insurance Company Act

Document details

Collection	Alberta — Bills
Citation	L15 S2 1439
Type	bill
Volume / chapter	L15 S2 1439
Language	en
Format	json
Source	PROVINCIAL
Identifier	faa43e5a3fd013a23b808de944c59b842912654c

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