14. In the event of a disagreement as to the percentage of damage by hail to any of the crop insured, whether the right to recover on the policy is disputed or not, such percentage shall, when so required by either party, be ascertained by an appraisal which shall be conducted as follows: (a) The party desiring appraisal shall deliver or cause to be delivered by mail or otherwise to the other party a notice in writing requiring an appraisal to be made and appointing a competent and disinterested appraiser who is a taxpayer in the Province, who shall act either alone or with an appraiser chosen by the other party to estimate the percentage of the damage. (b) Not later than three days after receipt of such notice the other party shall, if he disagrees, appoint an appraiser to represent him, and within the said period shall notify the first party of such appointment by notice in writing so delivered as aforesaid. (c) In the latter case the appraisers shall together estimate the percentage of damage, and failing to agree shall submit their differences to an umpire, and the award in writing of any two shall determine the percentage of such damage. Such umpire shall be chosen by the appraisers, or in case they cannot agree, then on the application of either appraiser, by a judge of the District Court of the judicial district within which the crop acreage insured lies. (d) If one appraiser has been chosen both parties shall share equally his expenses; if two, each party shall pay the expenses of the appraiser chosen by him; both parties shall bear equally the expense of the umpire if an umpire is required. (e) Should either party after receipt of written notice from the other, neglect or refuse to choose an appraiser within the time above specified, the percentage of damage shall be estimated and determined by the appraiser chosen by the party giving notice. (f) The actual appraisal of such damage shall be commenced within two days after both appraisers have been chosen, or after the expiration of the time herein allowed for such choice. 15. The loss shall be payable within sixty days after completion of proof of loss, unless a shorter period is provided for by the contract of insurance. 16. Every action or proceeding against the company for the recovery of any claim under or by virtue of this policy shall be absolutely barred, unless commenced within twelve months after the loss or damage occurs. 17. If the crop insured or the interest of the assured in such crop is assigned without the written permission of the head office or general agency of the company from which the policy was issued, such assignment shall not be binding on the company; but this condition does not apply to change of title by succession or by operation of the law, or by reason of death. [1918, c. 33, s. 1(4); 1919, c. 4, s. 51.] Short title Interpretation Assured Beneficiary Beneficiary for value Declaration Insurance Insurer CHAPTER 172. An Act respecting Beneficiaries under Life HIS Short Title. 1. This Act may be cited as "The Life Insurance Beneficiaries Act." [1916, c. 25, s. 1.] Interpretation. 2. In this Act, unless the context otherwise requires,- contract of insurance with the insurer, whether upon his own life or upon that of any other person; (b) "Beneficiary" shall mean any person who under any policy of insurance or any declaration in respect thereof is entitled to the moneys or benefit payable or accruing thereunder; (c) "Beneficiary for value" shall mean a beneficiary (e) "Insurance" shall mean life insurance; (i) any company within the meaning of The (ii) any friendly society within the meaning of The Alberta Insurance Act, that is to say, any corporation, society, association, or fraternity, the contract (g) "Maturity of the contract" shall mean the happen- Maturity of (h) "Nominee" shall mean a designated person on Nominee beneficiary (i) "Preferred beneficiary" shall mean the husband, Preferred Insurable Interest. interest 3.-(1) No contract of insurance, other than one upon Insurable the life of the assured, shall be valid unless the beneficiary has at the date of the contract an insurable interest in the life insured, but no contract of annuity upon life, otherwise valid, shall be deemed invalid by reason only of the fact that the annuitant had not, at the date of the contract or at any time, an insurable interest in the life of the nominee. (2) Nothing in this section shall be deemed to affect the rights of a bona fide assignee, donee or grantee of the beneficiary of a policy of insurance valid under this section, or those of his legatee, next-of-kin, or other person entitled by operation of law. [1916, c. 25, s. 3.] insurable interests 4. Without restricting the meaning which the term Persons with "insurable interest" now has at law, it is hereby declared that the following persons shall have an insurable interest, that is to say: (a) A parent in the life of his child under twenty-one (b) A husband in the life of his wife; (c) A married woman in the life of her husband; (d) Any person who has a pecuniary interest in the (e) Every person in his own life. [1916, c. 25, s. 4.] Insurance by parent on life of child Insurance on own life Fraud of creditors Declaration Presumed date of declaration by will Trustees 5. An insurance, effected prior to the nineteenth day of April, one thousand nine hundred and sixteen, by a parent upon the life of his child under twenty-one years of age, and which if effected after the said date would be valid by reason of the provisions of paragraph (a) of section 4 hereof, shall not be invalid by reason only of the parent's want of pecuniary interest in the life of such child. [1916, c. 25, s. 5.] Insurance on Life of Assured. 6. (1) Any person of the full age of twenty-one years may effect bona fide at his own charge insurance of his own person for the whole term of life or any shorter term, for the sole or partial benefit of himself or of his estate, or for the benefit of any other person; and the insurance money may be made payable to any person for his own use or as trustee for another person. (2) If the premiums on such insurance were paid by the assured with intent to defraud his creditors they shall be entitled to receive out of the insurance money an amount not exceeding the premiums so paid and interest thereon. (3) The assured may designate the beneficiary by any mode of declaration as defined in this Act and may, whether the insurance money has or has not been already appointed or apportioned, from time to time, except as against a beneficiary for value and subject to the provisions of this Act as to preferred beneficiaries, by declaration, appoint or apportion the same, or alter or revoke the benefits, or add or substitute new beneficiaries, or divert the insurance money wholly or in part to himself or his estate. (4) Where the declaration is made by will or other testamentary disposition such declaration shall be deemed to have been made at the time when it actually was made and not at the death of the testator. (5) Where the declaration describes the subject of it as the insurance or the policy or policies of insurance or the insurance fund of the assured, or uses language of like import in describing it, the declaration, although there exists a declaration in favour of a member or members of the preferred class of beneficiaries, shall be valid except in so far as it purports to alter or revoke such last mentioned declaration in a manner not allowed by this Act. (6) The assured may, by the contract of insurance or by declaration or by any writing under his hand, appoint a trustee or trustees of the insurance money and may in like manner from time to time revoke such appointment and appoint a new trustee or trustees and make provision for the appointment of a new trustee or trustees, and for the investment of the insurance money, and payment made to such trustee or trustees shall discharge the insurer. (7) Nothing in this Act shall restrict or interfere with Assignment the right to effect or assign a policy in any other manner allowed by law. some of (8) Where there are several beneficiaries, if one or more Death of of them die before the maturity of the contract and no several apportionment or other disposition is subsequently made beneficiaries by the assured, the share of such beneficiary or beneficiaries shall be for the benefit of the surviving beneficiary or beneficiaries, in equal shares if more than one; and if all the beneficiaries or the sole beneficiary die before the maturity of the contract and no other disposition is subsequently made by the assured the insurance shall be for the benefit of the assured or his estate. (9) Until the insurer has received the original or a copy of an instrument in writing affecting the insurance money or any part thereof, or of any appointment or revocation of an appointment of a trustee, the insurer may deal with, and obtain a valid discharge from, the assured or his beneficiaries, or his trustees, executors, administrators or assigns in the same manner and with the like effect as if such instrument in writing, appointment, or revocation had not been made, but nothing in this subsection shall affect the right of any person entitled by virtue of such instrument, appointment, or revocation to recover insurance money from the person to whom it has been paid by the insurer. (10) The provisions of this section shall apply to all declarations and all contracts of insurance except in so far as the same are inconsistent with the provisions of this Act relating to contracts made or declared to be for the benefit of a preferred beneficiary or preferred beneficiaries. [1916, c. 25, s. 6.] Insurance on Lives of Infants. Notice of instrument infants 7. (1) A person not of the full age of twenty-one years, Insurance on but of the age of fifteen years or more, may, notwithstanding his minority, effect insurance on his own life for the benefit of himself or of his estate, or for the benefit of a preferred beneficiary, or of a father, brother, sister, or grandparent, and may surrender such insurance or give a valid discharge for any benefit accruing or for any money payable under the contract, in like manner and to the same effect as if he were of full age. (2) Such person shall so far as shall be consistent with the provisions of this section, have all the powers as to designating beneficiaries, appointing and apportioning the insurance money, altering or revoking the benefits, adding or substituting new beneficiaries, or diverting the insurance |