Insurance Companies Act

Version of section 647 from 2010-01-01 to 2014-12-08:

Marginal note:Records
  •  (1) A foreign company shall prepare and maintain

    • (a) copies of all orders of the Superintendent in relation to the foreign company;

    • (b) accounting records respecting its insurance business in Canada; and

    • (c) with respect to its insurance business in Canada, records showing, for each customer of, or claimant under a policy issued by, the foreign company, the amount owing to the foreign company and the nature of the liabilities of the foreign company to the customer or claimant.

  • Marginal note:Standards for record keeping

    (2) The records described in paragraphs (1)(b) and (c) shall be kept in a manner that enables the chief agent of the foreign company to provide the Superintendent with the information required by section 664 and with the annual return required by subsection 665(2).

  • Marginal note:Place of records

    (3) The records described in subsection (1) shall be kept at the chief agency of the foreign company.

  • 1991, c. 47, s. 647;
  • 2001, c. 9, s. 449;
  • 2007, c. 6, s. 297.