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Insurance Companies Act

Version of section 840 from 2006-11-28 to 2024-06-19:

Marginal note:Court may set aside or require accounting

 If a director or officer of an insurance holding company fails to comply with any of sections 836 to 839, a court, on application of the insurance holding company or any of its shareholders, may set aside the contract or transaction on any terms that the court thinks fit and may require the director or officer to account to the insurance holding company for any profit or gain realized on it.

  • 2001, c. 9, s. 465
  • 2005, c. 54, s. 336

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