Insurance Companies Act
Marginal note:Contents of letters patent
28 (1) There shall be set out in the letters patent incorporating a company or society
(a) the name of the company or society;
(b) the place in Canada where the head office of the company or society is to be situated;
(c) the date that the company or society came, or is to come, into existence; and
(d) in the case of letters patent incorporating a company, whether the company is to be a mutual company.
Marginal note:Fraternal benefit societies
(2) In addition to the information required to be included under subsection (1), there shall be set out in the letters patent of a society
(a) the criteria for membership in the society;
(b) the manner in which the capital of the society is to be acquired; and
(c) the disposition to be made of the property of the society on liquidation.
Marginal note:Provisions in letters patent
(3) The Minister may set out in the letters patent incorporating a company or society any provision not contrary to this Act that the Minister considers advisable in order to take into account the particular circumstances of the proposed company or society.
Marginal note:Terms and conditions
(4) The Minister may impose such terms and conditions in respect of the issuance of letters patent incorporating a company or society as the Minister considers necessary or appropriate.
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