Acts and Regulations

C-13 - Companies Act

Section 142
Disposition versions

Full text
Subscribers and subscription book
142(1)Any five or more persons, of the age of nineteen years or over, being residents of any county in the Province and owning real estate in that county, may apply to the Superintendent for his approval to promote the organization of a company under this Part.
142(2)An application under subsection (1) shall be in writing and shall be signed by each of the applicants, with his post office address, and each signature shall be witnessed, and the applicants shall be known as the promoters of the proposed company, and one of them shall be named in the application as chairman.
142(3)If the Superintendent approves of the application, he shall forward to the promoters through their chairman one or more books, known as subscription books, for the purpose of obtaining subscribers to the organization of the proposed company.
142(4)Each subscription book shall contain
(a) a certificate of the Superintendent that he has approved of the application of the promoters, and
(b) a statement to be signed by each subscriber binding him, in the event of the organization of the company, to take out insurance therein to the amount subscribed.
142(5)Each subscriber shall be of the age of nineteen years or over, and be the owner of, or have an insurable interest in insurable property within New Brunswick, and each subscriber shall, in addition to his name, set forth in the subscription book his address, the parish or town in which the property to be insured is situate and the amount of insurance for which he subscribes.
142(6)The signature of each subscriber shall be witnessed and proved by affidavit.
R.S., c.33, s.140; 1972, c.5, s.2
Subscribers and subscription book
142(1)Any five or more persons, of the age of nineteen years or over, being residents of any county in the Province and owning real estate in that county, may apply to the Superintendent for his approval to promote the organization of a company under this Part.
142(2)An application under subsection (1) shall be in writing and shall be signed by each of the applicants, with his post office address, and each signature shall be witnessed, and the applicants shall be known as the promoters of the proposed company, and one of them shall be named in the application as chairman.
142(3)If the Superintendent approves of the application, he shall forward to the promoters through their chairman one or more books, known as subscription books, for the purpose of obtaining subscribers to the organization of the proposed company.
142(4)Each subscription book shall contain
(a) a certificate of the Superintendent that he has approved of the application of the promoters, and
(b) a statement to be signed by each subscriber binding him, in the event of the organization of the company, to take out insurance therein to the amount subscribed.
142(5)Each subscriber shall be of the age of nineteen years or over, and be the owner of, or have an insurable interest in insurable property within New Brunswick, and each subscriber shall, in addition to his name, set forth in the subscription book his address, the parish or town in which the property to be insured is situate and the amount of insurance for which he subscribes.
142(6)The signature of each subscriber shall be witnessed and proved by affidavit.
R.S., c.33, s.140; 1972, c.5, s.2