Insurance Companies Act
Marginal note:Reliance on statement
220 A director, an officer or an employee of a company is not liable under subsection 166(1) or (2), section 216 or 219 or subsection 539(1) if the director, officer or employee relies in good faith on
(a) financial statements of the company represented to the director, officer or employee by an officer of the company or in a written report of the auditor of the company fairly to reflect the financial condition of the company; or
(b) a report of an accountant, actuary, lawyer, notary or other professional person whose profession lends credibility to a statement made by the professional person.
- 1991, c. 47, s. 220
- 2001, c. 9, s. 384
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