156 Payment Of Insurance Proceeds

156 Despite the terms of the insurance policy, in making a payment, other than a payment arising from the liability of the strata corporation, under the strata corporation’s insurance policy, an insurer must make the payment

• (a) to the order of the insurance trustee designated by the bylaws, or
• (b) if an insurance trustee is not designated, to the order of the strata corporation to be held in trust until paid out under section 157.

1998-43-156, effective July 1, 2000 (B.C. Reg. 43/2000).