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It has been in effect since November 14, 1990, when this Act came into force.
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R.S.M. 1990, c. 74
The Insurance Institute of Manitoba Act
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WHEREAS there existed an association known as The Insurance Institute of Winnipeg;
AND WHEREAS certain persons prayed that the said association should be continued under the name Insurance Institute of Winnipeg;
AND WHEREAS their prayer was granted, and resulted in the enactment of An Act respecting "Insurance Institute of Winnipeg", assented to May 4, 1932;
AND WHEREAS the first members of the council of the said corporation were as follows: B. W. Ireland, P. A. Codere, H. H. Smith, W. J. Blackburn, C. R. O'Malley, Walter Scrimes, H. L. Wiglesworth, Jas. A. Dowler, T. Boys and Robt. McKay;
AND WHEREAS the Act was subsequently amended and the name of the corporation changed to Insurance Institute of Manitoba;
AND WHEREAS the Minister of Justice has caused the Act to be prepared in English and French for re-enactment in accordance with a judgment dated June 13, 1985 and an order dated November 4, 1985 of the Supreme Court of Canada;
THEREFORE HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:
Insurance Institute of Manitoba (hereinafter referred to as "the institute") is continued as a corporation, consisting of those persons who were members on the coming into force of this Act and such other persons as become members.
The institute shall be capable of making and receiving all deeds, conveyances, transfers, assignments and contracts necessary to carry out effectually the provisions of this Act and promote the objects and designs of the institute, and shall, subject to the provisions of this section, be capable of taking, purchasing, holding, selling, mortgaging and disposing of any and all goods, chattels, lands, tenements and hereditaments, and any real and personal property whatsoever, and any interest therein, which may from time to time be necessary or convenient for the purposes of the institute, but the institute shall not engage in, trade or deal in lands or any interest therein, but may apply money derived from fees, voluntary contributions or donations from members or others, towards the maintenance and objects of the institute in such manner as the institute shall from time to time by by-law direct.
The institute may invest its funds in such investments as trustees are authorized to invest in under The Trustee Act.
The objects of the institute shall be:
(a) the promotion and cultivation among its members of knowledge of all matters relating to the insurance business;
(b) the promotion and encouragement of ethical conduct in the insurance business generally;
(c) for these purposes, the promotion and encouragement of social intercourse among its members;
For the attainment of these objects the institute shall have, among other powers, power
(a) to establish and conduct classes, lectures, libraries, correspondence courses, and examinations, written or oral;
(b) to prescribe such tests and requirements of competency, character and conduct as may be deemed expedient to qualify for admission to membership in and advancement or recognition in the institute;
(c) to grant designations, degrees, certificates, diplomas or other evidence of such qualifications or passing of examinations or of honorary recognition in the institute;
(d) to grant scholarships, fellowships or prizes in money or in such other manner as the institute may deem expedient;
(e) to hold essay competitions, with or without prizes, and publish or sell or publish and sell essays, books, periodicals or other publications relating to the insurance business or its history.
The head office of the institute shall be at the city of Winnipeg in the province of Manitoba or at such other place as the members shall in any annual general or special general meeting determine.
The institute may from time to time by by-law, define and provide for one or more classes of membership and may prescribe the qualifications and requirements for admission to and the rights and duties of each of those classes.
The institute may fix an entrance fee and the annual fee or subscription to be paid by the various classes of members, and may vary the amounts thereof from time to time and may by by-law provide that any person failing to pay any such fee or subscription before a date to be specified in the by-law shall absolutely cease to be a member of the institute.
The institute may grant the designation "F.I.I.M." (signifying Fellow, Insurance Institute of Manitoba) or "A.I.I.M." (signifying Associate, Insurance Institute of Manitoba) to such members and upon such qualifications and terms and conditions as the institute by by-law provides.
Except as herein otherwise provided, the affairs and business of the institute shall be managed by a council consisting of not less than seven and not more than 21 members of the institute elected wholly or partly from or by particular territorial divisions of the institute or from and by membership generally as the by-laws, from time to time, provide.
The council may make by-laws for the government of the members and the carrying out of the objects of the institute, and may from time to time repeal, amend or re-enact the same; provided that the institute in general meeting may make, repeal, amend or re-enact by-laws for any of the purposes aforesaid, and may enact general by-laws limiting in any way the powers of the council hereunder.
Subject to subsection (2), such general and special meetings may be held at such times and places, upon such requests and under such regulations as to introducing motions and voting personally by proxy or mail or otherwise, as the by-laws provide, and the by-laws may provide for the disposal of any or all of the affairs and business of the institute by mailing or otherwise communicating resolutions, motions or questionnaires to the members at their last known addresses and ascertaining the majority view of the written replies received without the holding of meetings.
The annual meeting shall be held for the election of members of the council of the institute, and for the consideration of any or all of the affairs on business of the institute, at such time and place, and under such regulations as to nominating and voting by proxy or by mail or otherwise, with or without personal attendance, and after such notices as by the by-laws of the institute is determined, and, in default of such election being held at the proper time, the existing council shall be duly appointed. The by-laws may provide that all or any portion of such council be elected for a terms not exceeding two years, and may determine and apportion the duties and powers of the council and its officers and members. All vacancies which occur in the council, by death or otherwise, in the interval between two annual meetings, may be filled by the council until the next annual meeting.
The council shall elect from among its members a president and one or more vice-presidents, as the by-laws provide. The office of president shall not be held by any one person for more than two years in succession.
Such other officers may be elected or appointed by the council as the by-laws provide.
The council may, among other acts,
(a) prescribe a curriculum of studies to be pursued by and determine the fitness, character, competency and conduct of applicants for examinations, designations, degrees, certificates, diplomas, or other evidence of qualification or advancement;
(b) prescribe the subjects upon which candidates for examinations shall be examined;
(c) fix standards of skill and competency;
(d) establish a scale of fees to be paid by persons applying for examinations;
(e) appoint examiners, define their duties and fix their remuneration, if any; and
(f) make such rules and regulations (not contrary to the provisions of this Act or the by-laws of the institute) in respect to examinations as are expedient.
The institute may make arrangements with one or more universities or insurance institutes of a non-commercial character for the carrying out of the objects of the institute or any part thereof and for this purpose may grant to such universities or insurance institutes any or all of the powers of the institute upon such terms and conditions as is by the institute deemed expedient, but the non-commercial character of the institute shall be preserved by any such arrangement and no such arrangement shall be made or powers granted to or exercised by a commercial corporation, organization or individual.
No member shall be personally liable for any debt of the institute beyond the amount of his unpaid fees or subscription as aforesaid.
All interest in or claim against the funds and property of the institute of any member shall absolutely cease and determine upon the death of such member, and shall also absolutely cease and determine upon any such member during his lifetime ceasing to be a member of the institute.
The institute may by by-law provide for the suspension and expulsion on complaint made in writing and after due enquiry into same, of any member for misconduct or violation of the rules or by-laws of the institute.
No person shall be entitled to use the designation "Fellow, Insurance Institute of Manitoba" or "Associate, Insurance Institute of Winnipeg" or the initials "F.I.I.M." or "A.I.I.M." either alone or in combination with any other word or words or any name, title or description implying that he is a member of or has passed the examinations of the institute unless he has passed the examinations of and has been granted the said designation by the institute and is and remains entitled pursuant to the by-laws and rules of the institute to the use thereof.
Every person who contravenes any of the provisions of section 14 shall for every contravention incur a penalty of $50. and costs, and in default in payment to imprisonment for a term not exceeding two months.
The penalty imposed upon any such conviction shall be forthwith paid over to the Provincial Treasurer, to form part of the Consolidated Revenue of the province.
NOTE: This Act replaces S.M. 1932, c. 96.