Tax wiki
s. 139.2
PART I — Income Tax · DIVISION F — Special Rules Applicable in Certain Circumstances · Demutualization of Insurance Corporations
Mutual holding corporations
Not yet annotated · Text current to 2026-06-21 · section last amended 2004-08-31
Current text
Where at any time a mutual holding corporation (as defined in subsection 139.1(1)) in respect of an insurance corporation distributes property to a policyholder of the insurance corporation, the mutual holding corporation is deemed to have paid, and the policyholder is deemed to have received from the mutual holding corporation, at that time a dividend on shares of the capital stock of the mutual holding corporation, equal to the fair market value of the property.
Source: Justice Laws Website. Not an official version.
Historic text
This section has not been amended since the start of the point-in-time record on 31 August 2004.
Earlier versions: Justice Laws point-in-time versions of the Act (from 31 August 2004), and CanLII (under “Versions”). On Justice Laws, each version of section 139.2 links to the one before it.
Enacting and amending legislation
- 2000, c. 19, s. 38
Text before 2004 is found in the annual Statutes of Canada cited above. Application and coming-into-force provisions are not part of the consolidation; see the amending Acts.
Cross-references
Citation
Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.), s. 139.2.