C-73.2 - Real Estate Brokerage Act

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109. The Real Estate Indemnity Fund is made up of the contributions paid by licence holders in accordance with the Organization’s regulations, the fines imposed by the discipline committee less the costs relating to the disciplinary process, the money recovered by way of subrogation from a licence holder, the interest earned on the money in the Fund and any increase in the assets of the Fund.
Any insufficiency of assets is to be offset by a loan contracted by the Organization. The loan must be repaid out of the Fund.
Moreover, the Organization may determine the contribution so as to offset an insufficiency.
2008, c. 9, s. 109; 2018, c. 232018, c. 23, s. 475.
109. The Real Estate Indemnity Fund is made up of the fees paid by licence holders in accordance with the Organization’s regulations, the fines imposed by the discipline committee less the costs relating to the disciplinary process, the money recovered by way of subrogation from a broker or agency, the interest earned on the money in the Fund and any increase in the assets of the Fund.
Any insufficiency of assets is to be offset by a loan contracted by the Organization. The loan must be repaid out of the Fund.
Moreover, the Organization may determine the amount of fees so as to offset an insufficiency.
2008, c. 9, s. 109.