Director Requirements

As per By-law 2010-4
3.03 Qualifications

No person shall be eligible to become a director unless such person:

(a) is a resident of the Province of Ontario;

(b) is at least eighteen (18) years of age, but not more than seventy (70) years of age, at the time of election to the board, and whose previous terms, together with the current proposed term, would not exceed twenty-one (21) successive years;

(c) is not of unsound mind;

(d) is not bankrupt;

(e) is and has been a member of the Corporation for the previous one (1) years;

(f) is not an agent or employee of the Corporation or the Corporation’s bankers;

(g) is not a director, officer or shareholder of an incorporated Insurance Brokerage or Insurance Agency associated with the Corporation which does not offer its shares for sale to the public, or any employee or agent of such Insurance Brokerage or Insurance Agency business associated with the Corporation;

(h) is not a director or officer of another Insurance Company which competes with or sells the same or similar insurance products as the Corporation; and

(i) is not a spouse, child, parent or sibling of any of the persons identified in subsections (f) through (h) inclusive.

In the event that an existing director no longer qualifies, such director shall thereupon cease to be a director. A director attaining the age of seventy (70) years during a term of office may serve out such term. Directors in office at the date of Amalgamation are not subject to the seventy (70) year age or twenty-one (21) consecutive years of service restrictions until the next annual meeting.