CHAP. 108.

An Act respecting the Dominion of Canada Guarantee and Accident Insurance Company.

W

[Assented to 10th July, 1899.]

WHEREAS the Dominion of Canada Guarantee and Acci- Preamble. dent Insurance Company has, by its petition, prayed

that it be enacted as hereinafter set forth, and it is expedient to grant the prayer of the said petition: Therefore Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:

1. Section 1 of chapter 105 of the statutes of 1887 is hereby 1887, c. 105, amended by adding after the word "disabled" at the end of s. 1 amended. the thirteenth line of the said section the words "including Business of sickness not ending in death," and by adding after the word Company. "accident" in the fourteenth line of the said section, the words "or casualty not including sickness."

sickness, con

2. The Dominion of Canada Guarantee and Accident Insur Insurance ance Company shall not make and effect contracts of insurance against with any person against sickness not ending in death until a dition as to. further amount of not less than ten thousand dollars of capital stock has been paid in cash into the funds of the Company.

OTTAWA: Printed by SAMUEL EDWARD DAWSON, Law Printer to the Queen's most Excellent Majesty.

CHAP. 109.

An Act respecting the Dominion Permanent Loan

Company.

[Assented to 11th August, 1899.]

WHEREAS the Dominion Permanent Loan Company has, Preamble. by its petition, prayed that it be enacted as hereinafter set forth, and it is expedient to grant the prayer of the said petition Therefore Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:

1. Section 2 of chapter 85 of the statutes of 1897 is hereby 1897, c. 85, repealed.

s. 2, repealed.

powers.

2. The Dominion Permanent Loan Company, hereinafter Borrowiug called "the Company," may borrow money and receive money on deposit upon such terms as to interest, security and otherwise as may be agreed on, and may issue its bonds, debentures, debenture stock and other securities for moneys borrowed; provided that the total of the Company's liabilities to the Limitation public outstanding from time to time shall not exceed four of liabilities times the amount paid up on its capital stock; and provided deposits. further that the amount held on deposit shall not at any time exceed the aggregate amount of its then actually paid-up and unimpaired capital, and of its cash actually in hand, or deposited in any chartered bank in Canada, and belonging to the Company.

and money

3. The Company may lend money on the security of, or Investment purchase, or invest in,

powers

(a.) mortgages or hypothecs upon freehold or leasehold real Mortgages. estate, or other immovables;

(b.) debentures, bonds, stocks and other securities of any Debentures government, municipal or school corporation, chartered bank stocks, etc. or company incorporated by or under the authority of the Parliament of Canada, or of the legislature of any former, present or future province of Canada; provided that the Com- Proviso as

to bills

Collateral security.

Stock of similar

company.

pany shall not lend upon the security of, or purchase or invest in, bills of exchange or promissory notes; provided also that the Company may take personal securities as collateral for any advance made, or to be made, or for any debt due to the Company; and provided further that the Company shall not invest in, or lend money upon, the security of the stock of any other loan company.

OTTAWA: Printed by SAMUEL EDWARD DAWSON, Law Printer to the Queen's most Excellent Majesty.