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Statutes of Newfoundland and Labrador 2013
AN ACT TO AMEND THE INSURANCE ADJUSTERS, AGENTS AND BROKERS ACT
(Assented to December 10, 2013)
Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:
1. (1) Subsection 33(1) of the Insurance Adjusters, Agents and Brokers Act is repealed and the following substituted:
Statement of financial affairs
33. (1) Where an individual, partnership or corporation is licensed as an agent, broker or representative and maintains one or more trust accounts, that individual, partnership or corporation shall present annually to the superintendent not later than 3 months after the fiscal year end of the agent, broker or representative, a statement of the financial affairs of the business of the licensee in a form prescribed by the superintendent for the period then ended.
(2) Section 33 of the Act is amended by adding the following immediately after subsection (2:
(3) The superintendent may exempt a person or a class of persons from the requirement in subsection (1) in whole or in part and with the restrictions, limitations or conditions the superintendent considers appropriate.