C-73.2, r. 3 - Regulation respecting the issue of broker’s and agency licences

Full text
6. A real estate agency licence or a mortgage agency licence is issued by the Organization to a person or partnership making an application to that effect if, in addition to meeting the requirements set out in the Real Estate Brokerage Act (chapter C-73.2),
(1)  in the case of a natural person, the person holds a real estate broker’s licence or a mortgage broker’s licence, and acts as the executive officer of the agency;
(2)  the directors or executive officers of the agency have passed all courses or completed all other training programs required by the inspection or discipline committee or taken as a consequence of a voluntary commitment on their part;
(3)  the executive officer has the qualifications required to act in that capacity;
(4)  if applicable, all fees required under this Regulation and all amounts owing to the insurance fund and the fee to be paid into the Real Estate Indemnity Fund have been paid;
(5)  the person or partnership, and each of its partners in the case of a partnership or directors in the case of a legal person,
(a)  has reimbursed the Organization for any indemnity amount paid pursuant to a decision of the indemnity committee concerning them;
(b)  has not failed to respect an order of the discipline committee or court made in connection with a disciplinary action or a remedy referred to in sections 35 and 128 of the Real Estate Brokerage Act, or has not failed to pay any fine and any interest, costs and charges owing to the Organization pursuant to a decision of the discipline committee or a judgment;
(c)  where applicable, has remitted the sum of money to the person or partnership entitled to it, in compliance with a final judgment imposing such a penalty under subparagraph 4 of the first paragraph of section 98 of the Real Estate Brokerage Act; and
(d)  has paid every sum of money to the party to whom it is owing as a consequence of a commitment entered into during mediation or conciliation or an arbitration award, pursuant to section 34 of the Real Estate Brokerage Act.
O.C. 295-2010, s. 6; O.C. 157-2012, s. 4.