C-73.1 - Real Estate Brokerage Act

Section 55 Disposition versions

1994-01-15

55. The purpose of the fund is to administer the sums of money deposited into it to guarantee any liability that may be incurred by a broker or agent owing to fraud, a dishonest transaction, or the misappropriation of funds or other property which, under this Act, must be deposited in a trust account.

To this end, the fund may, on the conditions, in the manner and in accordance with the rules determined by government regulation,

(1)  rule on the admissibility of claims against a broker or agent;

(2)  authorize any payment or disbursement to be made out of the fund;

(3)  invest the sums of money deposited into the fund.

1991, c. 37, s. 55.