Agricultural insurance plans
3(1)The corporate body may make plans respecting agricultural insurance, including but not limited to plans respecting the following:
(a)
the terms and conditions of agricultural insurance;
(b)
the losses to be provided for;
(c)
the designation of an agricultural product as an insurable agricultural product;
(d)
the designation of perils;
(e)
the designation of persons eligible for agricultural insurance;
(f)
the application or enrolment for agricultural insurance;
(g)
the determination of coverage and value;
(h)
the determination of probable yields;
(i)
the determination of premium rates and the payment and collection of premiums;
(j)
the information, statements and reports to be furnished by applicants for agricultural insurance and insured persons;
(k)
the termination of participation by the insured person;
(l)
the forfeiture of rights under an agricultural insurance plan;
(m)
the making of arrangements, contracts, policies and agreements; and
3(2)Participation in a plan under subsection (1) is voluntary.
3(3)A plan under subsection (1) may apply to one or more insurable agricultural products and the plan or a provision of it may apply to the whole Province or to an area within it.
3(4)The corporate body has the discretion to grant agricultural insurance under a plan under subsection (1).
3(5)No person shall have agricultural insurance coverage until the corporate body accepts the person’s application.
3(6)For the purposes of paragraph (1)(
h), the corporate body shall determine probable yields in accordance with a methodology certified in writing by an actuary.
3(7)For the purposes of paragraph (1)(
i), the corporate body shall determine premium rates in accordance with a methodology certified in writing by an actuary.
3(8)The corporate body may amend or revoke a plan or a provision of a plan under subsection (1).
3(9)The
Regulations Act does not apply to a plan under subsection (1) or an amendment or revocation under subsection (8).
3(10)The
Regulations Act does not apply to an arrangement, contract, policy or agreement of the corporate body.
3(11)A plan under subsection (1), or an amendment to or revocation of a plan under subsection (8), shall be published in
The Royal Gazette but failure to publish does not affect the validity of the plan or the amendment to or revocation of the plan.
3(12)A plan under subsection (1), or an amendment to or revocation of a plan under subsection (8), comes into force on the date that it is made by the corporate body unless
(a)
an earlier date, including a date before the commencement of this section, is specified in the plan or the amendment to or revocation of the plan, or
(b)
a later date is specified in the plan or the amendment to or revocation of the plan.
1995, c.15, s.3; 2008, c.46, s.5