Insurance Companies Act

Marginal note:Policies re security interests

• 470 (1) The directors of a company shall establish and the company shall adhere to policies regarding the creation of security interests in property of the company to secure obligations of the company and the acquisition by the company of beneficial interests in property that is subject to security interests.

• Marginal note:Order to amend policies

  (2) The Superintendent may, by order, direct a company to amend its policies as specified in the order.

• Marginal note:Compliance

  (3) A company shall comply with an order made under subsection (2) within the time specified in the order.