45(1)The deposit made by an insurer under this Act is subject to administration in the same manner hereinafter provided.
45(2)Subject to sections 66 and 67, the deposit shall be held and administered for the benefit of all insured persons under New Brunswick contracts and they are entitled to share in the proceeds of the deposit.
45(3)An insured person under New Brunswick contract is entitled to share in the proceeds of the deposit in respect of
(a)
a claim for a loss that is covered by the contract and that occurred before the termination date fixed pursuant to section 50,
(b)
a claim for refund of unearned premiums except in the case of life insurance,
(c)
a claim for payment of the legal reserve in respect of the contract in the case of life insurance, or