Acts and Regulations

C-13 - Companies Act

Full text
Withdrawal of member
151Any member may with the consent of the directors withdraw from the company upon such terms as the directors lawfully prescribe, and upon withdrawal his policy shall be cancelled; but he is nevertheless liable to be assessed for and to pay his proportion of losses, expenses and reserve to the time of cancelling the policy, and on such payments being made, he is entitled to a return of his premium note.
R.S., c.33, s.149
Withdrawal of member
151Any member may with the consent of the directors withdraw from the company upon such terms as the directors lawfully prescribe, and upon withdrawal his policy shall be cancelled; but he is nevertheless liable to be assessed for and to pay his proportion of losses, expenses and reserve to the time of cancelling the policy, and on such payments being made, he is entitled to a return of his premium note.
R.S., c.33, s.149