C-73.2, r. 4 - Regulation respecting records, books and registers, trust accounting and inspection of brokers and agencies

Section 25 Disposition versions

2012-09-01

25. The sums that must be paid into a trust account are paid immediately, under the terms of the trust provided for in the transaction proposal or under the terms of any other agreement, into a general trust account opened under the name of the licence holder.

Where a person who entrusted a sum to the licence holder expressly requests that the interest on that sum be remitted to him or her, the licence holder must immediately transfer the sum from the general trust account to a special trust account. The broker or the agency must ensure that the name of the client for whom the account is opened is indicated.

O.C. 296-2010, s. 25.