100. A firm may share a commission it receives only with another firm, an independent representative or independent partnership, a broker or agency governed by the Real Estate Brokerage Act (chapter C-73.2), a securities dealer or securities adviser governed by the Derivatives Act (chapter I-14.01) or the Securities Act (chapter V-1.1), an authorized deposit institution, a bank, an authorized foreign bank, an authorized trust company, an insurer or a federation within the meaning of the Act respecting financial services cooperatives (chapter C-67.3).
The commission shall be shared in the manner determined by regulation.
The firm shall enter every sharing of a commission in a register, in accordance with the regulations.
A person receiving an amount from the sharing of a commission made in accordance with this section is not required, by virtue of that fact, to be registered with the Authority under the third paragraph of section 71.
1998, c. 37, s. 100; 2000, c. 29, s. 638; 2009, c. 58, s. 55; 2008, c. 9, s. 138; 2018, c. 23, s. 534112018, c. 23, s. 53412.