BILL 62

An Act to Amend An Act Respecting Keystone General Insurance Company

WHEREAS by An Act Respecting Keystone General Insurance Company, chapter 69 of the Acts of New Brunswick, 1987, the name of Keystone General Insurance Company was changed to Fortress General Insurance Corporation; and

WHEREAS by An Act to Amend An Act Respecting Keystone General Insurance Company, chapter 95 of the Acts of New Brunswick, 1992, the name of Fortress General Insurance Corporation was further changed to United General Insurance Corporation; and

WHEREAS United General Insurance Corporation prays that it be enacted as hereinafter set forth;

THEREFORE, Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:

1( 1) The title of An Act Respecting Keystone General Insurance Company, chapter 69 of the Acts of New Brunswick, 1987, is repealed and the following is substituted:

An Act Respecting United General Insurance Corporation

1( 2) If in any Act, other than this Act, or in any regulation, rule, order, by-law, agreement or other instrument or document, reference is made to An Act Respecting Keystone General Insurance Company, it shall be read, unless the context otherwise requires, as a reference to An Act Respecting United General Insurance Corporation.

2 Subsection 4(4) of the Act is amended by striking out “, other than a Class A share,”.

3 Section 6 of the Act is amended

ain subsection (1) by striking out “nine” wherever it appears and substituting “three”;

bin subsection (2) by striking out “Class A shares” wherever it appears and substituting “voting shares”;

cby adding after subsection (2) the following:

6( 3) Directors of the Company may be, but are not required to be, shareholders of the Company.