1924-25, c. 20 Section 18 amended Section 37 amended New sectiona 72, 73, 74 ard 74a Meaning of Sole deposit of insurer in this province 1927 CHAPTER 22 An Act to amend The Saskatchewan Insurance Act, HIS 1925. [Assented to March 1, 1927.] IS Majesty, by and with the advice and consent of the Legislative Assembly of Saskatchewan, enacts as follows: 1. The Saskatchewan Insurance Act, 1925, is amended in the manner hereinafter set forth. 2. Section 18 is amended by inserting after the figures "156" in the fifth line the words "or to the application for such contract, the amount of the premium and the commission paid or payable to the agent.' 3. Clause (a) of subsection (1) and subsection (2) of section 37 are amended by striking out the words "or The Benevolent Societies Act." 4. Sections 72, 73 and 74 are repealed and the following substituted therefor: "72.-(1) In sections 73 and 74 the expression 'contracts' shall in relation to any other province of the Dominion have the meaning assigned to it by the Act of that province under which insurers are licensed to carry on the business of insurance. "(2) This section and sections 73 and 74 shall be applicable notwithstanding that the insurer is or may become licensed in one province for classes of insurance different from those for which it is or may become licensed in another province. "73.-(1) Where an insurer has its head office for the Dominion in this province and makes a deposit under this Act for the purposes of this section, by virtue whereof the insurer will not be required to make a deposit in another province in which it is or may become licensed to undertake insurance, the following provisions shall have effect, and to the extent that they are inconsistent with any other provision of this Act shall prevail over that provision, namely: "(a) The amount of the deposit to be made and maintained by the insurer shall be fixed by the Lieutenant Governor in Council, and shall be not less than fifty thousand dollars; "(b) The deposit shall be held and administered as security pari passu for its contracts in this province and its contracts in any other province where it is or may become licensed to undertake insurance, and as security also for all fees, taxes, and costs payable by it to this and any other province; "(c) The minister shall, upon the request of the official who issues or proposes to issue a license to the insurer in another province, certify under his hand that the deposit is held in manner provided by clause (b), and the superintendent shall forward the certificate to that official and a copy to the Superintendent of Insurance in each province; "(d) Where, with respect to the outstanding contracts of the insurer, it appears to the superintendent from the annual report of such insurer or any examination of the affairs of the insurer that a further deposit for the purposes of this section is necessary, or where it appears to the Superintendent of Insurance for another province in which the insurer is licensed from any annual report made to him by the insurer or any examination of the affairs of the insurer that a further deposit for the purposes of this section is necessary, and such superintendent requests the superintendent to obtain a further deposit, the insurer shall forthwith deposit such further sum as the Lieutenant Governor in Council may fix; "(e) If the insurer obtains a Dominion license extending to this or another province, the minister may, on the request of the insurer, authorise the superintendent to deliver to the insurer or to transfer to the Minister of Finance for the Dominion the whole or part of such deposit as the minister thinks fit, having regard to the extent of the Dominion license; "(f) Where the license of the insurer is suspended or cancelled under this Act, the superintendent shall give immediate notice to the Superintendent of Insurance in each province, "(g) Where the insurer ceases to carry on insurance business in the Dominion, and its deposit may be withdrawn under this Act, or where its deposit becomes liable to administration under this Act, the superintendent shall notify the Superintendent of Insurance in each province, and all Sole deposit of insurer in another province claims and liabilities arising in any such province shall be verified by the Superintendent of Insurance there and a statement thereof communicated to the superintendent; "(h) Where the insurer withdraws from, or its license is suspended or cancelled in, or its deposit becomes liable to administration under the law of another province and notice thereof is given to the superintendent, the minister and the superintendent shall, upon request of the Superintendent of Insurance in that province, take such steps as would be taken if the insurer were withdrawing from, or its license were suspended or cancelled in, or its deposit had become liable to administration in this province, and all claims and liabilities arising in that province. shall be verified by the Superintendent of Insurance there and a statement thereof communicated to the superintendent. (2) The insurer shall not change the situation of its head office to another province without the consent of the minister, but where the minister so consents he may authorise the superintendent to transfer the insurer's deposit to the minister responsible for the deposit in that province, or to the insurer, as the minister in that province requests. "74.—(1) Where the insurer has its head office for the Dominion in another province and there makes a deposit of such amount as shall be fixed by the proper authority in that province, and which shall be not less than fifty thousand dollars, and such deposit is under the laws of that province held as security pari passu for its contracts in that province and its contracts in this and any other province where it is or may become licensed to undertake insurance, and as security also for all fees, taxes, and costs payable by it to each province, the minister, upon receipt of a certificate from the minister of that province responsible for the deposit that the deposit is and will be so held as aforesaid, and of the consent of the insurer to its being so held, shall exempt the insurer from the provisions of this Act requiring it to make and maintain a deposit. "(2) Where the deposit of the insurer becomes liable to administration for the purpose of satisfying its claims and liabilities arising in this province, the superintendent shall, by notice in the Gazette or otherwise at the cost of the insurer, ascertain and advertise for particulars of all outstanding contracts of and claims against the insurer, verified in such manner as may seem advisable to him, and shall upon receipt of the same, properly verified, communicate a statement thereof to the Superintendent of Insur ance for the province holding the deposit, with particulars of any other liabilities for which the deposit is held as security. "(3) Where a licensed insurer is exempted under this section, the minister shall transfer its deposit under this Act to the minister responsible for the deposit in the province in which the insurer has its head office and which will hold the deposit, or to the insurer, as that minister requests. "(4) Every provision of this section shall prevail over any other provision of this Act to the extent that it is inconsistent with such other provision. provinces “74a.—(1) The Lieutenant Governor in Council may, Power to 72 on being satisfied that any other province has enacted to 74 to other provisions identical with or substantially the same as sections 72 to 74, direct that those sections shall apply to that province, and may from time to time revoke or alter any such order. "(2) Every Order in Council under this section shall be published in the Gazette, and a copy shall be sent to the Superintendent of Insurance in each province." 5. Section 92 is amended by adding thereto the follow- Section 92 ing subsection: "(2) Every licensed insurer shall also prepare annually and deliver to the superintendent on or before the last day of January in each year a return giving the names and addresses of all persons authorised to act as agents of the insurer in the province and of all persons to whom the insurer has, during the period mentioned in the preceding subsection, paid or allowed, directly or indirectly, any commission or compensation for obtaining or negotiating insurance in the province, or negotiating for the continuance or the renewal thereof, or collecting premiums in respect thereof or attempting so to do, such return to be verified in the manner prescribed by the superintendent." amended amended 6. Section 103 is amended by striking out the words Section 103 "Except in the case of a fraternal society" and substituting therefor the words "Unless herein otherwise provided.” 7. Subsection (2) of section 113 is repealed. Section 113 amended amended 8. Subsection (1) of section 117 is amended by changing Section 117 the word "by" in the first line to "through.” amended 9. Subsection (1) of section 138 is repealed and the Section 138 following substituted therefor: "(1) No insurer licensed under this Act to transact fire or hail insurance shall make, write, place, or cause to Section 143 amended New section 148 Section 205 amended New section 206 be made, written, or placed, any policy, duplicate policy, or contract of insurance upon property real or personal situate in Saskatchewan or described in any policy, duplicate policy, or contract of insurance as situate in Saskatchewan unless such policy, duplicate policy, or contract of insurance has been signed or countersigned by an agent of the insurer, who is resident in this province and holds a certificate of authority from the superintendent. Such agent shall make a record of the same in books provided for that purpose and receive the commission (or any part thereof) when the premium stipulated in such policy, duplicate policy, or contract of insurance is paid." 10. Subsection (3) of section 143 is repealed and the following substituted therefor: "(3) An insurer licensed under this Act for the transaction of fire insurance may insure an automobile against loss or damage by fire under a fire insurance policy, provided that in the case of a mutual fire insurance company such automobile shall be specifically insured under a policy separate from that insuring other property." 11. Section 148 is repealed and the following substituted therefor: "148. A policy may contain a limitation of liability clause (or clauses) to the effect that the insurer shall only be liable for a specified proportion of any loss, which may be sustained to any of the property covered by the policy, or to the effect that the insurer shall not be liable for more than a specified percentage of the value of any of the said property at time of such loss, or, in the event of there being any other insurance covering any of the said. property, to the effect that the insurer shall only be liable for a rateable proportion of a specified percentage or proportion of any loss to any of said property or to the effect that the insurer shall not be liable for more than a rateable proportion of a specified percentage of the value of any of the property at the time of such loss, in which case there shall be printed or stamped on the face of the policy, in conspicuous type, and in red ink, the words: This policy contains a limitation of liability clause.' Such clause (or clauses) shall not be deemed to be a variation of any statutory condition." 12. Subsection (1) of section 205 is amended by striking out the words "three years" in the second line and substituting "one year." 13. Section 206 is repealed and the following substituted therefor: |