Insurance Companies Act

Marginal note:Definitions

571 In this Part,

association

association means an association of persons formed in a foreign country on the plan known as Lloyd’s, whereby each member of the association participating in a policy becomes liable for a stated, limited or proportionate part of the whole amount payable under the policy; (association)

chief agency

chief agency means the principal office of a foreign company in Canada; (agence principale)

chief agent

chief agent, in respect of a foreign company, means the natural person appointed pursuant to subsection 579(3) and named as such in the power of attorney referred to in paragraph 579(1)(b); (agent principal)

exchange

exchange means a group of persons formed in a foreign country for the purpose of exchanging reciprocal contracts of indemnity or inter-insurance with each other through the same attorney, where the principal office of the exchange is in a foreign country; (groupe d’échange)

foreign entity

foreign entity means an entity incorporated or formed by or under the laws of a country other than Canada, and includes an association and an exchange; (entité étrangère)

foreign fraternal benefit society

foreign fraternal benefit society means a fraternal benefit society incorporated outside Canada; (société de secours étrangère)

foreign life company

foreign life company means a foreign company that is authorized to insure risks that fall within the class of life insurance; (société d’assurance-vie étrangère)

foreign marine company

foreign marine company means a foreign company that is authorized to solely insure risks within the class of marine insurance; (société d’assurance maritime étrangère)

foreign property and casualty company

foreign property and casualty company means a foreign company other than a foreign life company or a foreign marine company. (société d’assurances multirisques étrangère)

fraternal benefit society

fraternal benefit society[Repealed, 1997, c. 15, s. 299]