Acts and Regulations

C-13 - Companies Act

Section 158
Disposition versions

Full text
Management of company
158(1)Subject to the by-laws and resolutions of the company and the provisions of this Part and the Insurance Act, and the regulations, the directors have the general management and control of the business and affairs of the company and its funds and property and in connection therewith may appoint a manager, a secretary, a treasurer and such other officers, agents or assistants as to them may seem necessary, prescribe their duties, fix their compensation or allowances, take security for the faithful performance of their respective duties and remove them and appoint others in their stead.
158(2)The directors may appoint the same person to more than one office or employment.
158(3)The security given by the treasurer or other officer or officers having charge of the money, funds, investments or securities of the company shall be in the amount that the Superintendent directs, but in any event not less than two thousand dollars, and shall consist of the bond of a guarantee company licensed to do business in the Province.
R.S., c.33, s.156
Management of company
158(1)Subject to the by-laws and resolutions of the company and the provisions of this Part and the Insurance Act, and the regulations, the directors have the general management and control of the business and affairs of the company and its funds and property and in connection therewith may appoint a manager, a secretary, a treasurer and such other officers, agents or assistants as to them may seem necessary, prescribe their duties, fix their compensation or allowances, take security for the faithful performance of their respective duties and remove them and appoint others in their stead.
158(2)The directors may appoint the same person to more than one office or employment.
158(3)The security given by the treasurer or other officer or officers having charge of the money, funds, investments or securities of the company shall be in the amount that the Superintendent directs, but in any event not less than two thousand dollars, and shall consist of the bond of a guarantee company licensed to do business in the Province.
R.S., c.33, s.156