C-73.1, r. 2 - By-law of the Association des courtiers et agents immobiliers du Québec

Replaced on 30 June 2012

This document has official status.

chapter C-73.1, r. 2

By-law of the Association des courtiers et agents immobiliers du Québec

Real Estate Brokerage Act

(chapter C-73.1, s. 74).

The Act was replaced by the Real Estate Brokerage Act (chapter C-73.2) except that the rules in sections 85, 86, 87, 89, 90, 94, 99 and 100 and in Schedules 1 to 5 of this Regulation continue to apply until 30 June 2012 (O.C. 414-2011, 2011-04-13).

CHAPTER I REAL ESTATE BROKER’S OR AGENT’S CERTIFICATES

DIVISION I CATEGORIES OF CERTIFICATES

1. The categories of real estate broker’s or agent’s certificates issued by the Association des courtiers et agents immobiliers du Québec are

(1)  a chartered real estate broker’s certificate;

(2)  a certificate for a real estate broker restricted to loans secured by immovable hypothec;

(3)  an affiliated real estate broker’s certificate;

(4)  a chartered real estate agent’s certificate;

(5)  an affiliated real estate agent’s certificate; and

(6)  a certificate for a real estate agent restricted to loans secured by immovable hypothec.

O.C. 1865-93, s. 1.

DIVISION II CONDITIONS AND RESTRICTIONS PERTAINING TO EACH CATEGORY OF CERTIFICATE

2. A chartered real estate broker’s certificate, provided for in paragraph 1 of section 1, may be issued to a natural person, a partnership or a legal person and allows its holder to use the title of chartered real estate broker and to carry on the real estate brokerage activity referred to in section 1 of the Real Estate Brokerage Act (chapter C-73.1). A holder of that certificate may employ or authorize to act on his behalf only a natural person holding an affiliated real estate broker’s certificate or a chartered or affiliated real estate agent’s certificate.

O.C. 1865-93, s. 2.

3. A certificate for a real estate broker restricted to loans secured by immovable hypothec, provided for in paragraph 2 of section 1, may be issued only to a natural person holding a certificate for a market intermediary in insurance issued under the Act respecting market intermediaries (chapter R-15.1). A holder of that certificate may use the title of real estate broker restricted to loans secured by immovable hypothec and may carry on real estate brokerage activities only in respect of loans secured by immovable hypothec. A holder of that certificate may employ or authorize to act on his behalf only a natural person holding a certificate for a real estate agent restricted to loans secured by immovable hypothec.

O.C. 1865-93, s. 3.

4. An affiliated real estate broker’s certificate, provided for in paragraph 3 of section 1, may be issued only to a natural person holding a broker’s permit issued by the Superintendent of Real Estate Brokerage under the Real Estate Brokerage Act (chapter C-73) who was employed by a broker or was authorized to act on behalf of a broker on 20 June 1991. A holder of that certificate may use the title of affiliated real estate broker but may engage in a brokerage transaction referred to in section 1 of the Act only if he is employed by the holder of a chartered real estate broker’s certificate or by a multidisciplinary firm holding a certificate provided for in any of paragraphs 5 to 10 of section 1 of the Regulation respecting multidisciplinary firms (O.C. 1020-91 [I-15.1, r. 0.3]), and issued under the Act respecting market intermediaries (chapter I-15.1), or if he is authorized to act on behalf of a holder of such a certificate. A holder of that certificate may not employ the holder of a real estate broker’s or agent’s certificate or authorize such a person to act on his behalf.

O.C. 1865-93, s. 4.

5. A chartered real estate agent’s certificate, provided for in paragraph 4 of section 1, may be issued only to a natural person. A holder of that certificate may use the title of chartered real estate agent but may engage in a brokerage transaction referred to in section 1 of the Act only if he is employed by the holder of a chartered real estate broker’s certificate or by a multidisciplinary firm holding a certificate provided for in any of paragraphs 5 to 10 of section 1 of the Regulation respecting multidisciplinary firms, or if he is authorized to act on behalf of the holder of such a certificate. A holder of that certificate may not employ the holder of a real estate broker’s or agent’s certificate or authorize such a person to act on his behalf.

O.C. 1865-93, s. 5.

6. An affiliated real estate agent’s certificate, provided for in paragraph 5 of section 1, may be issued only to a natural person. A holder of that certificate may use the title of affiliated real estate agent but may engage in a brokerage transaction referred to in section 1 of the Act only if he is employed by the holder of a chartered real estate broker’s certificate or by a multidisciplinary firm holding a certificate provided for in any of paragraphs 5 to 10 of section 1 of the Regulation respecting multidisciplinary firms, or if he is authorized to act on behalf of the holder of such a certificate. A holder of that certificate may not employ a holder of a real estate broker’s or agent’s certificate or authorize such a person to act on his behalf.

O.C. 1865-93, s. 6.

7. A certificate for a real estate agent restricted to loans secured by immovable hypothec, provided for in paragraph 6 of section 1, may be issued only to a natural person holding a certificate for a market intermediary in insurance issued under the Act respecting market intermediaries. A holder of that certificate may use the title of real estate agent restricted to loans secured by immovable hypothec but may engage in a brokerage transaction referred to in section 1 of the Act only in respect of loans secured by immovable hypothec and only if he is employed by the holder of a certificate for a real estate broker restricted to loans secured by immovable hypothec or by a multidisciplinary firm holding a certificate provided for in any of paragraphs 5 to 16 of section 1 of the Regulation respecting multidisciplinary firms, or if he is authorized to act on behalf of the holder of such a certificate. A holder of that certificate may not employ a holder of a real estate broker’s or agent’s certificate or authorize such a person to act on his behalf.

O.C. 1865-93, s. 7.

DIVISION III TERMS AND CONDITIONS FOR THE ISSUE OF A CERTIFICATE

§ 1 . — Chartered real estate broker’s certificate

Natural person

8. A natural person wishing to be issued a chartered real estate broker’s certificate shall apply therefor to the Association in writing. The person shall fulfil the following conditions:

(1)  have at least one establishment in Québec;

(2)  not be an undischarged bankrupt;

(3)  have the qualifications required under the Regulation respecting the application of the Real Estate Brokerage Act (chapter 73.1, r. 1), to hold a chartered real estate broker’s certificate;

(4)  designate each natural person who will act as the manager or assistant manager of each place of business and who has the qualifications required under the Regulation respecting the application of the Real Estate Brokerage Act to hold a chartered real estate broker’s certificate;

(5)  not carry on any activity prohibited by law; and

(6)  pay the fees provided for in Chapter I of the By-law on chargeable fees and specialist titles of the Association des courtiers et agents immobiliers du Québec (O.C. 1866-93, 93-12-15)), for the issue of a chartered real estate broker’s certificate, as well as the contributions to the Fonds d’indemnisation du courtage immobilier, as provided for in Chapter V of the Regulation respecting the application of the Real Estate Brokerage Act.

O.C. 1865-93, s. 8.

9. A person referred to in section 8 shall also send with his application the following information and documents, accompanied by a solemn affirmation attesting to their accuracy:

(1)  for himself and for each natural person designated to act as the manager or assistant manager of a place of business:

(a)  his name and, in the case of a person referred to in section 8, any other name that he intends to use in Québec in the course of his activities;

(b)  his name at birth, where different from the name given in subparagraph a;

(c)  his date and place of birth;

(d)  the address of his domicile, including the postal code and his telephone number; and

(e)  the category and number of any real estate broker’s or agent’s certificate, real estate broker’s or agent’s permit, or registered builder’s certificate held in the 5 years preceding his application;

(2)  a declaration to the effect that the person himself and each natural person designated to act as the manager or assistant manager of a place of business have the qualifications required in the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1);

(3)  a declaration to the effect that he has reimbursed, where applicable, the amount provided for in paragraph 7 of section 21 of the Regulation respecting the application of the Real Estate Brokerage Act;

(4)  the address of his principal establishment, of his principal establishment in Québec, of each of his places of business and of each of his establishments in Québec, including the postal codes, as well as the corresponding telecommunications numbers;

(5)  where applicable, a copy of the registration in each district where he carries on or plans to carry on his activities, of his declaration of firm name in accordance with the Companies and Partnerships Declaration Act (chapter D-1), or a copy of the declaration of registration in accordance with the Act respecting the legal publicity of enterprises (chapter P-44.1) as well as a copy of any amending declaration;

(6)  if he uses a firm name, a trademark or a logo that does not belong to him, other than that of the Association, of a real estate board belonging to the Fédération des chambres immobilières du Québec, of that federation or of the Canadian Real Estate Association, a copy of any document authorizing him to use it and stating the conditions governing that use;

(7)  for himself and for each natural person designated to act as the manager or assistant manager of a place of business,

(a)  in the case of a person who has Canadian citizenship, the original or a certified true copy of his act of birth, birth certificate or certificate of Canadian citizenship, unless that person already holds a real estate broker’s or agent’s certificate;

(b)  in the case of a person who does not have Canadian citizenship, the original or a certified true copy of the document issued by the Canadian immigration authorities attesting to his permanent resident status or of the work permit issued by the Canadian immigration authorities, unless that person already holds a real estate broker’s or agent’s certificate;

(c)  2 identical, full-face colour photographs, measuring 43 by 54 millimetres, taken in the past 6 months, on a white background, showing the person from the shoulders up, with the head uncovered, and dated on the back with a date stamp; and

(d)  a copy of all documents establishing that each of those persons has the qualifications required under the Regulation respecting the application of the Real Estate Brokerage Act;

(8)  proof of the security required under Chapter III, including a copy of any contract evidencing that security and, where that contract includes a deductible of an amount greater than that provided for in the first paragraph of section 56, proof that it meets the requirements of the second paragraph of that section;

(9)  a list of the activities, other than real estate brokerage activities, that the person carries on or plans to carry on; and

(10)  a list of the chartered or affiliated real estate agents or affiliated real estate brokers employed by him or authorized to act on his behalf.

O.C. 1865-93, s. 9.

Partnership

10. A partnership wishing to be issued a chartered real estate broker’s certificate shall apply therefor to the Association in writing. The partnership shall fulfil the following conditions:

(1)  have at least one establishment in Québec;

(2)  not be an undischarged bankrupt;

(3)  designate the natural person who will represent the applicant for the purposes of the Act, as well as each natural person who will act as the manager or assistant manager of each place of business and who has the qualifications required under the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1) to hold a chartered real estate broker’s certificate;

(4)  the partnership and, as the case may be, each partner, shall have reimbursed, where applicable, the amount of principal, interest and costs resulting from any final judgment rendered against it or him by reason of its or his liability for any of the causes provided for in section 55 of the Act;

(5)  prior to 15 January 1994, neither the partnership nor any of the partners shall, in the 5 years preceding the application for a certificate, have been found guilty of, by final judgment, or have pleaded guilty to a criminal offence related to the activity of real estate broker, real estate agent or registered builder that gave rise to the revocation of its or their permit or registration certificate by the Superintendent of Real Estate Brokerage under the Real Estate Brokerage Act (chapter C-73), unless a pardon has been granted;

(6)  neither the partnership nor any of the partners shall, prior to 15 January 1994, have had a permit or registration certificate revoked by the Superintendent of Real Estate Brokerage under the Real Estate Brokerage Act (chapter C-73) because of its or their having been found guilty of or pleaded guilty to an offence provided for in the Act in connection with failure to deposit or to keep in a trust account all the sums received on behalf of others in the course of its or their activities;

(7)  neither the partnership nor any of the partners shall, in the 5 years preceding the application for a certificate, have been found guilty of or pleaded guilty to an offence against the Real Estate Brokerage Act (chapter C-73) or an Act governing real estate brokerage outside Québec, in connection with failure to deposit or to keep in a trust account all the sums received on behalf of others in the course of its or their activities;

(8)  neither the partnership nor any of the partners shall, from 15 January 1994, have had a certificate issued by the Association suspended because of its or their failure to deposit or to keep in a trust account all the sums received on behalf of others in the course of its or their activities;

(9)  none of the partners shall, from 15 January 1994, have been found guilty of, by final judgment, or pleaded guilty, in the 5 years preceding the application for a certificate, to a criminal offence related to the activity of real estate broker, unless he has been granted a pardon;

(10)  not engage in any activity prohibited by law; and

(11)  pay the fees provided for in Chapter I of the By-law respecting chargeable fees and specialist titles of the Association des courtiers et agents immobiliers du Québec for the issue of a chartered real estate broker’s certificate, as well as the contributions to the Fonds d’indemnisation, as provided for in Chapter V of the Regulation respecting the application of the Real Estate Brokerage Act.

O.C. 1865-93, s. 10.

11. A partnership referred to in section 10 shall also send with its application the following information and documents, accompanied by a solemn affirmation signed by a representative generally or specifically authorized for that purpose and attesting to their accuracy:

(1)  for itself,

(a)  its name;

(b)  the category and number of any real estate broker’s certificate, broker’s permit or registered builder’s certificate held in the 5 years preceding its application;

(2)  for each of the partners forming the partnership, for each officer of the partnership, for the natural person designated to represent it for the purposes of the Act and for each natural person designated to act as the manager or assistant manager of a place of business:

(a)  his name;

(b)  his name at birth, where different from the name given under subparagraph a;

(c)  his date and place of birth;

(d)  the address of his domicile, including the postal code and his telephone number; and

(e)  the category and number of any real estate broker’s or agent’s certificate, real estate broker’s or agent’s permit or registered builder’s certificate held in the 5 years preceding the application;

(3)  a declaration to the effect that the natural person designated to represent it for the purposes of the Act and each natural person designated to act as the manager or assistant manager of a place of business has the qualifications required under the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1);

(4)  a declaration to the effect that the partnership or, as the case may be, each partner, has reimbursed, where applicable, the amount provided for in paragraph 4 of section 10;

(5)  the address of its principal establishment, of its principal establishment in Québec, of each of its places of business and of each of its establishments in Québec, including the postal codes, as well as the corresponding telecommunications numbers;

(6)  a copy of the partnership contract and, where applicable, of all amendments thereto;

(7)  where applicable, a copy of the registration in each district where the applicant carries on or plans to carry on its activities, of its partnership declaration in accordance with the Companies and Partnerships Declaration Act (chapter D-1), or a copy of the declaration of registration in accordance with the Act respecting the legal publicity of enterprises (chapter P-44.1) as well as a copy of any amending declaration;

(8)  if it uses another name, a trademark or a logo that does not belong to it, other than that of the Association, of a real estate board belonging to the Fédération des chambres immobilières du Québec, of that federation or of the Canadian Real Estate Association, a copy of any document authorizing it to use it and stating the conditions governing that use;

(9)  for the natural person designated to represent the applicant for the purposes of the Act and for each natural person designated to act as the manager or assistant manager of a place of business:

(a)  in the case of a person who has Canadian citizenship, the original or a certified true copy of his act of birth, birth certificate or certificate of Canadian citizenship, unless that person already holds a real estate broker’s or agent’s certificate;

(b)  in the case of a person who does not have Canadian citizenship, the original or a certified true copy of the document issued by the Canadian immigration authorities attesting to his permanent resident status, or of the work permit issued by the Canadian immigration authorities, unless that person already holds a real estate broker’s or agent’s certificate;

(c)  2 identical, full-face colour photographs, measuring 43 by 54 millimetres, taken in the past 6 months, on a white background, showing the person from the shoulders up, with the head uncovered, and dated on the back with a date stamp; and

(d)  a copy of all documents establishing that each of those persons has the qualifications required under the Regulation respecting the application of the Real Estate Brokerage Act;

(10)  proof of the security required under Chapter III, including a copy of any contract evidencing that security and, where that contract includes a deductible of an amount greater than that provided for in the first paragraph of section 56, proof that it meets the requirements of the second paragraph of that section;

(11)  a list of the activities, other than real estate brokerage activities, that the partnership carries on or plans to carry on; and

(12)  a list of the chartered or affiliated real estate agents or affiliated real estate brokers employed by the applicant or authorized to act on its behalf.

O.C. 1865-93, s. 11.

Legal person

12. A legal person wishing to be issued a real estate broker’s certificate shall apply therefor to the Association in writing. The legal person shall fulfil the following conditions:

(1)  have at least one establishment in Québec;

(2)  not be an undischarged bankrupt;

(3)  designate the natural person who will represent it for the purposes of the Act, as well as each natural person who will act as the manager or assistant manager of each place of business and who has the qualifications required under the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1) to hold a chartered real estate broker’s certificate;

(4)  have reimbursed, where applicable, the amount of principal, interest and costs resulting from any final judgment rendered against it by reason of its liability for any of the causes provided for in section 55 of the Act;

(5)  prior to 15 January 1994, not, in the 5 years preceding its application for a certificate, have been found guilty of, by final judgment, or pleaded guilty to a criminal offence related to the activity of real estate broker, real estate agent or registered builder that gave rise to the revocation of its permit or registration certificate by the Superintendent of Real Estate Brokerage under the Real Estate Brokerage Act (chapter C-73), unless it has been granted a pardon;

(6)  not, prior to 15 January 1994, have had its permit or registration certificate revoked by the Superintendent of Real Estate Brokerage under the Real Estate Brokerage Act (chapter C-73) in the past 5 years because of its having been found guilty of or pleaded guilty to an offence provided for in the Act in connection with failure to deposit or to keep in a trust account all the sums received on behalf of others in the course of its activities;

(7)  not, in the 5 years preceding the date of its application for a certificate, have been found guilty of or pleaded guilty to an offence against the Real Estate Brokerage Act (chapter C-73) or an Act governing real estate brokerage outside Québec, in connection with failure to deposit or to keep in a trust account all the sums received on behalf of others in the course of its activities;

(8)  not, from 15 January 1994 and in the 5 years preceding the date of its application for a certificate, have had a certificate issued by the Association cancelled because of its failure to deposit or to keep in a trust account all the sums received on behalf of others in the course of its activities;

(9)  not, from 15 January 1994 and in the 5 years preceding the date of its application for a certificate, have been found guilty of, by final judgment, or pleaded guilty to a criminal offence related to the activity of real estate broker, unless it has been granted a pardon;

(10)  not engage in any activity prohibited by law; and

(11)  pay the fees provided for in Chapter I of the By-law respecting chargeable fees and specialist titles of the Association des courtiers et agents immobiliers du Québec for the issue of a chartered real estate broker’s certificate, as well as the contributions to the Fonds d’indemnisation, as provided for in Chapter V of the Regulation respecting the application of the Real Estate Brokerage Act.

O.C. 1865-93, s. 12.

13. A legal person referred to in section 12 shall also send with its application the following information and documents, accompanied by a solemn affirmation signed by a representative generally or specifically authorized for that purpose and attesting to their accuracy:

(1)  for itself:

(a)  its name and, where applicable, any other name that it intends to use in Québec in the course of its activities; and

(b)  the category and number of any real estate broker’s certificate, real estate broker’s permit or registered builder’s certificate held in the 5 years preceding the application;

(2)  for each of the directors and officers of the legal person, for the natural person designated to represent it for the purposes of the Act and for each natural person designated to act as the manager or assistant manager of a place of business:

(a)  his name;

(b)  where applicable, his name at birth, where different from the name given under subparagraph a;

(c)  his date and place of birth;

(d)  the address of his domicile, including the postal code and his telephone number; and

(e)  the category and number of any real estate broker’s or agent’s certificate, real estate broker’s or agent’s permit or registered builder’s certificate held in the 5 years preceding the application;

(3)  a declaration to the effect that the natural person designated to represent it for the purposes of the Act and each natural person designated to act as the manager or assistant manager of a place of business has the qualifications required under the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1);

(4)  a declaration to the effect that the legal person has reimbursed, where applicable, the amount provided for in paragraph 4 of section 12;

(5)  the address of its principal establishment, of its principal establishment in Québec, of each of its places of business and of each of its establishments in Québec, including the postal codes, as well as the corresponding telecommunications numbers;

(6)  a copy of its constituting act and, where applicable, of all amendments thereto;

(7)  where applicable, a copy of the registration in each district where it carries on or plans to carry on its activities, of its declaration in accordance with section 1 of the Companies and Partnerships Declaration Act (chapter D-1), or a copy of the declaration of registration in accordance with the Act respecting the legal publicity of enterprises (chapter P-44.1) as well as a copy of any amending declaration;

(8)  if it uses another name, a trademark or a logo that does not belong to it, other than that of the Association, of a real estate board belonging to the Fédération des chambres immobilières du Québec, of that federation or of the Canadian Real Estate Association, a copy of any document authorizing it to use it and stating the conditions governing that use;

(9)  for the natural person designated to represent the applicant for the purposes of the Act and for each natural person designated to act as the manager or assistant manager of a place of business,

(a)  in the case of a person who has Canadian citizenship, the original or a certified true copy of his act of birth, birth certificate or certificate of Canadian citizenship, unless that person already holds a real estate broker’s or agent’s certificate;

(b)  in the case of a person who does not have Canadian citizenship, the original or a certified true copy of the document issued by the Canadian immigration authorities attesting to his permanent resident status, or of the work permit issued by the Canadian immigration authorities, unless that person already holds a real estate broker’s or agent’s certificate;

(c)  2 identical, full-face colour photographs, measuring 43 by 54 millimetres, taken in the past 6 months, on a white background, showing the person from the head up, with the head uncovered, and dated on the back with a date stamp; and

(d)  a copy of all documents establishing that each of those persons has the qualifications required under the Regulation respecting the application of the Real Estate Brokerage Act;

(10)  proof of the security required under Chapter III, including a copy of any contract evidencing that security and, where that contract includes a deductible of an amount greater than that provided for in the first paragraph of section 56, proof that it meets the requirements of the second paragraph of that section;

(11)  a list of the activities, other than real estate brokerage activities, that the legal person carries on or plans to carry on; and

(12)  a list of the chartered or affiliated real estate agents employed by it or authorized to act on its behalf.

O.C. 1865-93, s. 13.

§ 2 . — Affiliated real estate broker’s certificate

14. A natural person wishing to be issued an affiliated real estate broker’s certificate shall apply therefor to the Association in writing. The person shall fulfil the following conditions:

(1)  on 20 June 1991, hold a broker’s permit issued by the Superintendent of Real Estate Brokerage under the Real Estate Brokerage Act (chapter C-73) and be employed by a broker or authorized to act on behalf of a broker;

(2)  have the qualifications required under the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1) to hold an affiliated real estate broker’s certificate;

(3)  designate the holder of a chartered real estate broker’s certificate or of a certificate for a multidisciplinary firm provided for in any of paragraphs 5 to 10 of section 1 of the Regulation respecting multidisciplinary firms that will employ the person or authorize the person to act on his behalf;

(4)  not engage in any activity prohibited by law;

(5)  undertake to work at an establishment in Québec; and

(6)  pay the fees provided for in Chapter I of the By-law respecting chargeable fees and specialist titles of the Association des courtiers et agents immobiliers du Québec for the issue of an affiliated real estate broker’s certificate, as well as the contributions to the Fonds d’indemnisation, as provided for in Chapter V of the Regulation respecting the application of the Real Estate Brokerage Act.

O.C. 1865-93, s. 14.

15. A person referred to in section 14 shall also send with his application any document showing that he fulfils the conditions provided for in paragraph 1 of section 14, as well as the information and documents provided for in section 19, accompanied by a solemn affirmation attesting to their accuracy.

O.C. 1865-93, s. 15.

§ 3 . — Certificate for a real estate broker restricted to loans secured by immovable hypothec

16. A natural person wishing to be issued a certificate for a real estate broker restricted to loans secured by immovable hypothec shall apply therefor to the Association in writing. The person shall fulfil the conditions provided for in section 23 of the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1).

O.C. 1865-93, s. 16.

17. A person referred to in section 16 shall also send with his application the following information and documents, accompanied by a solemn affirmation attesting to their accuracy:

(1)  the information and documents provided for in section 19;

(2)  the category and number of his certificate or certificates for a market intermediary in insurance;

(3)  his name and, where applicable, any other name that he uses in Québec in carrying on the activity of market intermediary in insurance; and

(4)  a copy of his certificate or certificates for a market intermediary in insurance.

O.C. 1865-93, s. 17.

§ 4 . — Chartered real estate agent’s certificate

18. A natural person wishing to be issued a chartered real estate agent’s certificate shall apply therefor to the Association in writing. The person shall fulfil the following conditions:

(1)  have the qualifications required under the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1) to hold a chartered real estate agent’s certificate;

(2)  designate the holder of a chartered real estate broker’s certificate or of a certificate for a multidisciplinary firm provided for in any of paragraphs 5 to 10 of section 1 of the Regulation respecting multidisciplinary firms that will employ the person or authorize the person to act on his behalf;

(3)  not engage in any activity prohibited by law;

(4)  undertake to work at an establishment in Québec; and

(5)  pay the fees provided for in Chapter I of the By-law respecting chargeable fees and specialist titles of the Association des courtiers et agents immobiliers du Québec for the issue of a chartered real estate agent’s certificate, as well as the contributions to the Fonds d’indemnisation, as provided for in Chapter V of the Regulation respecting the application of the Real Estate Brokerage Act.

O.C. 1865-93, s. 18.

19. A person referred to in section 18 shall also send with his application the following information and documents, accompanied by a solemn affirmation attesting to their accuracy:

(1)  the following information pertaining to the holder of a chartered real estate broker’s certificate or of a certificate for a multidisciplinary firm provided for in any of paragraphs 1 to 5 of section 1 of the Regulation respecting multidisciplinary firms that will employ the person or authorize the person to act on his behalf:

(a)  the name of the partnership or of the natural person or legal person and, in the case of that natural person or legal person, any other name that he or it intends to use in Québec in the course of his or its activities; and

(b)  the number of his or its real estate broker’s certificate or certificate for a multidisciplinary firm;

(2)  information to the effect that the person will be employed by that broker or multidisciplinary firm or authorized to act on his or its behalf;

(3)  a document showing that the person will act, where applicable, as a representative of that broker or multidisciplinary firm for the purposes of the Act or as the manager or assistant manager of a place of business;

(4)  the information provided for in subparagraphs a to e of paragraph 1 of section 9;

(5)  a declaration to the effect that the person

(a)  has the qualifications required under the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1); and

(b)  has reimbursed, where applicable, the amount provided for in paragraph 7 of section 21 of the Regulation respecting the application of the Real Estate Brokerage Act;

(6)  a document from the holder of a chartered real estate broker’s certificate or of a certificate for a multidisciplinary firm provided for in paragraph 1, from the natural person who represents him or it for the purposes of the Act or from any other person specifically authorized for that purpose by the certificate holder or by his or its representative,

(a)  to the effect that he or it undertakes to employ the person or to authorize the person to act on his or its behalf once the person is issued the certificate applied for;

(b)  giving the address of the place of business to which the person will be assigned, including the postal code and the corresponding telecommunications numbers;

(7)  the documents provided for in subparagraphs a to d of paragraph 7 of section 9; and

(8)  a list of the activities, other than those provided for in section 1 of the Act, that the person carries on or intends to carry on.

O.C. 1865-93, s. 19.

§ 5 . — Affiliated real estate agent’s certificate

20. A natural person wishing to be issued an affiliated real estate agent’s certificate shall apply to the Association therefor in writing. The person shall fulfil the following conditions:

(1)  have the qualifications required under the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1) (to hold an affiliated real estate agent’s certificate;

(2)  designate the holder of a chartered real estate broker’s certificate or of a certificate for a multidisciplinary firm provided for in any of paragraphs 5 to 10 of section 1 of the Regulation respecting multidisciplinary firms that will employ the person or authorize the person to act on his behalf;

(3)  not engage in any activity prohibited by law;

(4)  undertake to work at an establishment in Québec; and

(5)  pay the fees provided for in Chapter I of the By-law respecting chargeable fees and specialist titles of the Association des courtiers et agents immobiliers du Québec for the issue of an affiliated real estate agent’s certificate, as well as the contributions to the Fonds d’indemnisation, as provided for in the Regulation respecting the application of the Real Estate Brokerage Act.

O.C. 1865-93, s. 20.

21. A person referred to in section 20 shall also send with his application the information and documents provided for in section 19, accompanied by a solemn affirmation attesting to their accuracy.

O.C. 1865-93, s. 21.

§ 6 . — Certificate for a real estate agent restricted to loans secured by immovable hypothec

22. A natural person wishing to be issued a certificate for a real estate agent restricted to loans secured by immovable hypothec shall apply to the Association therefor in writing. The person shall fulfil the conditions provided for in section 22 of the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1).

O.C. 1865-93, s. 22.

23. A person referred to in section 22 shall also send with his application the following information and documents, accompanied by a solemn affirmation attesting to their accuracy:

(1)  the information and documents provided for in section 19;

(2)  the category and number of his certificate or certificates for a market intermediary in insurance;

(3)  the name under which he carries on the activity of market intermediary in insurance;

(4)  the name of the market intermediary in insurance or of the insurer that employs him; and

(5)  a copy of his certificate or certificates for a market intermediary in insurance.

O.C. 1865-93, s. 23.

§ 7 . — Notice

24. Whenever an affiliated real estate broker’s certificate or a real estate agent’s certificate is issued or denied, the Association shall notify the holder of a chartered real estate broker’s certificate, of a certificate for a real estate broker restricted to loans secured by immovable hypothec or of a certificate for a multidisciplinary firm whose name appears on the application.

O.C. 1865-93, s. 24.

25. Whenever it refuses to issue a real estate broker’s or agent’s certificate, the Association shall, in writing, notify the natural person, partnership or legal person, as the case may be, specifying the grounds for the refusal. That notice shall be sent by any means providing proof of the date of receipt.

Before refusing to issue a real estate broker’s or agent’s certificate to a natural person on the grounds that the person does not meet the qualification requirement under paragraph 2 of section 21 of the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1), or before refusing to issue a chartered real estate broker’s certificate on the grounds that a partner of the partnership or the legal person does not fulfil the requirement or condition set out in paragraph 9 of section 10 or 12, the Association shall send the file for a decision to the committee established pursuant to section 25.2 and the natural person, legal person or partner may present observations to the committee in accordance with sections 25.3 to 25.6.

O.C. 1865-93, s. 25; O.C. 397-2005, s. 1.

§ 8 . — Presentation of observations and decision

O.C. 397-2005, s. 2.

25.1. Where the Association becomes aware that a natural person applying for the issue of a certificate has been found guilty of, by final judgment, or pleaded guilty to a criminal offence which may be related to activities as a real estate broker or agent, the Association shall, before refusing to issue the certificate on the grounds that the person does not meet the qualification requirement under paragraph 2 of section 21 of the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1), send the file for a decision to the committee established pursuant to section 25.2 and the natural person may present observations to the committee in accordance with sections 25.3 to 25.6.

The same applies before refusing to issue a certificate to a partnership or legal person on the grounds that the partnership or person does not fulfil the requirement or condition set out in paragraph 9 of section 10 or 12.

O.C. 397-2005, s. 2.

25.2. The board of directors of the Association shall establish a committee composed of three members of the Association, including a chair, for a one-year term. On the expiry of the term, the members shall be reappointed or replaced. A committee member whose term has expired may, however, continue to examine a matter referred to the member before the expiry of the member’s term.

Committee members may not be members of the board of directors of the Association or members of the professional inspection committee or the discipline committee.

O.C. 397-2005, s. 2.

25.3. The committee is to determine whether the criminal offence for which the natural person, legal person or partner of the partnership has been found guilty by final judgment or to which the person or partner has pleaded guilty is related to activities as a real estate broker or agent.

The decisions of the committee are made by a majority of votes.

O.C. 397-2005, s. 2.

25.4. The committee shall notify the natural person, legal person or partnership applying for the issue of a certificate in writing at least 30 days before the date fixed for the decision to determine whether the criminal offence for which the natural person, legal person or partner of the partnership has been found guilty by final judgment or to which the person or partner has pleaded guilty is related to activities as a real estate broker or agent.

The notice must indicate the consequences of the decision and the possibility of presenting oral or written observations at a meeting within the 30-day period and, where applicable, the possibility of producing any documents necessary to complete the file.

O.C. 397-2005, s. 2.

25.5. The committee may render its decision in the absence of the natural person, legal person or partnership applying for the issue of a certificate if the person or partnership does not attend the scheduled meeting or has not presented written observations or produced the documents necessary to complete the file. The decision to refuse to issue the certificate must include reasons.

O.C. 397-2005, s. 2.

25.6. On receiving the committee’s decision, the secretary of the Association shall immediately send the decision to the natural person, legal person or partnership applying for the issue of a certificate and the decision takes effect on its notification.

O.C. 397-2005, s. 2.

DIVISION IV INFORMATION THAT A CERTIFICATE MUST CONTAIN

26. A certificate issued by the Association shall contain the following information:

(1)  where the holder of a chartered real estate broker’s certificate is a natural person:

(a)  his name and, where applicable, any other name that he intends to use in Québec in the course of his activities;

(b)  the address of his principal establishment in Québec, including the postal code and the corresponding telephone number;

(2)  where the holder of a chartered real estate broker’s certificate is a partnership or a legal person:

(a)  the name of the partnership or legal person and, in the case of a legal person, any other name that it intends to use in Québec in the course of its activities;

(b)  the address of its principal establishment in Québec, including the postal code and the corresponding telephone number;

(c)  the name of the natural person who represents it for the purposes of the Act;

(3)  in the case of the holder of a certificate for a real estate broker restricted to loans secured by immovable hypothec:

(a)  his name and, where applicable, any other name that he intends to use in Québec in the course of his activities; and

(b)  the address of his principal establishment in Québec, including the postal code and the corresponding telephone number;

(4)  in the case of the holder of an affiliated real estate broker’s certificate or of a chartered or affiliated real estate agent’s certificate:

(a)  his name;

(b)  the name of the partnership, natural person or legal person holding a chartered real estate broker’s certificate or a certificate for a multidisciplinary firm that employs him or authorizes him to act on his or its behalf and, in the case of that natural person or legal person, where applicable, any other name that he or it intends to use in Québec in the course of his or its activities;

(c)  the address of the place of business to which he is assigned, including the postal code and the corresponding telephone number; and

(d)  in the case of the holder of an affiliated real estate broker’s certificate or of a chartered real estate broker’s certificate, whether he is acting as the representative of the holder of a chartered real estate broker’s certificate or of a certificate for a multidisciplinary firm for the purposes of the Act or as the manager or assistant manager of a place of business;

(5)  in the case of the holder of a certificate for a real estate agent restricted to loans secured by immovable hypothec:

(a)  his name;

(b)  the name of the natural person, partnership or legal person holding a certificate for a real estate broker restricted to loans secured by immovable hypothec or a certificate for a multidisciplinary firm and employing him or authorizing him to act on his or its behalf and, in the case of that natural person or legal person, any other name that he or it intends to use in Québec in the course of his or its activities; and

(c)  where applicable, his business address, including the postal code and the corresponding telephone number; and

(6)  in addition, in all cases:

(a)  the category of certificate;

(b)  the certificate number;

(c)  the date of issue or renewal of the certificate;

(d)  the expiry date of the certificate;

(e)  the specialist titles, provided for in Chapter II of the By-law respecting chargeable fees and specialist titles of the Association des courtiers et agents immobiliers du Québec, that the certificate holder may use; and

(f)  the original signature of the secretary of the Association, or a facsimile of that signature provided by the Association.

O.C. 1865-93, s. 26.

DIVISION V TERM OF A CERTIFICATE

27. A real estate broker’s or agent’s certificate is valid for a 12-month period, from 1 January to 31 December.

The first paragraph does not apply to a certificate issued or renewed during the year, which may be valid for less than 12 months, from its date of issue or renewal to 31 December of the same year.

O.C. 1865-93, s. 27.

DIVISION VI SUSPENSION, CANCELLATION, RENEWAL OR REINSTATEMENT OF A CERTIFICATE

§ 1 . — Suspension of a certificate

28. A real estate broker’s certificate, other than an affiliated real estate broker’s certificate, is suspended by operation of law upon the occurrence of any of the following events:

(1)  in the case of the holder of a chartered real estate broker’s certificate, where any of his places of business ceases to be managed in accordance with section 13 of the Act for more than 60 consecutive days; or

(2)  in the case of the holder of a certificate for a real estate broker restricted to loans secured by immovable hypothec, where he ceases to hold a certificate for a market intermediary in insurance issued under the Act respecting market intermediaries, or where his certificate for a market intermediary in insurance is suspended.

O.C. 1865-93, s. 28.

29. An affiliated real estate broker’s certificate or a real estate agent’s certificate is suspended by operation of law upon the occurrence of any of the following events:

(1)  where the certificate of the holder of a chartered real estate broker’s certificate, of a certificate for a real estate broker restricted to loans secured by immovable hypothec or of a certificate for a multidisciplinary firm that employs the certificate holder or on whose behalf the certificate holder is authorized to act is suspended or cancelled; or

(2)  in the case of the holder of a certificate for a real estate agent restricted to loans secured by immovable hypothec, where he ceases to hold a certificate for a market intermediary in insurance issued under the Act respecting market intermediaries or where his certificate for a market intermediary in insurance is suspended.

O.C. 1865-93, s. 29.

30. A real estate broker’s or agent’s certificate is suspended by operation of law where its holder is in default of paying to the Fonds d’indemnisation du courtage immobilier, within the period prescribed for payment, the contribution provided for in section 30 of the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1).

O.C. 1865-93, s. 30.

31. A real estate broker’s or agent’s certificate is suspended by operation of law if, when presented for payment, the cheque or other bill of exchange remitted by the certificate holder to pay the fees provided for in Chapter I of the By-law respecting chargeable fees and specialist titles of the Association des courtiers et agents immobiliers du Québec (or the contribution to the Fonds d’indemnisation provided for in Chapter V of the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1) is returned by the financial institution on which it was drawn.

O.C. 1865-93, s. 31.

32. A real estate broker’s or agent’s certificate is suspended by operation of law if the certificate holder is in default of paying to the Association a fine imposed under the Act.

O.C. 1865-93, s. 32.

33. The suspension of a certificate does not have the effect of giving entitlement to a reimbursement or reducing the amount of the fees chargeable or of a contribution due under the Act or the regulations or by-laws made thereunder.

O.C. 1865-93, s. 33.

§ 2 . — Cancellation of a certificate

34. A real estate broker’s certificate, other than an affiliated real estate broker’s certificate, is cancelled by operation of law upon the occurrence of any of the following events:

(1)  where the certificate holder is a natural person, where he no longer has all the qualifications required under section 21 of the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1);

(2)  where the certificate holder is a partnership, where it no longer fulfils all the conditions provided for in paragraphs 4 to 9 of section 10;

(3)  where the certificate holder is a legal person, where it no longer fulfils all the conditions provided for in paragraphs 4 to 9 of section 12;

(4)  where it is established that the certificate holder’s certificate was issued, renewed or reinstated under false pretences concerning the required qualifications in the case of a natural person or concerning the conditions provided for in paragraphs 4 to 9 of section 10 in the case of a partnership or in paragraphs 4 to 9 of section 12 in the case of a legal person;

(5)  where the certificate holder no longer has a place of business in Québec;

(6)  where the certificate holder is a natural person, when he dies;

(7)  where the holder of a chartered real estate broker’s certificate is a partnership, where it is considered dissolved for any of the reasons provided for by law;

(8)  where the holder of a chartered real estate broker’s certificate is a legal person, where it is considered wound up for any of the reasons provided for by law; or

(9)  in the case of the holder of a certificate for a real estate broker restricted to loans secured by immovable hypothec, where his certificate for a market intermediary in insurance, issued under the Act respecting market intermediaries, is cancelled.

O.C. 1865-93, s. 34.

35. An affiliated real estate broker’s certificate or a real estate agent’s certificate is cancelled by operation of law upon the occurrence of any of the following events:

(1)  where the certificate holder no longer has all the qualifications required in section 21 of the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1);

(2)  where it is established that the certificate holder’s certificate was issued, renewed or reinstated under false pretences concerning the required qualifications;

(3)  in the case of the holder of a certificate for a real estate agent restricted to loans secured by immovable hypothec, where his certificate for a market intermediary is cancelled; or

(4)  when the certificate holder dies.

O.C. 1865-93, s. 35.

36. A real estate broker’s or agent’s certificate is cancelled by operation of law where the certificate holder has not reimbursed the amount of principal, interest and costs within 30 days of any final judgment rendered against him by reason of his liability for any of the causes referred to in section 55 of the Act.

O.C. 1865-93, s. 36.

37. The suspension of a certificate does not have the effect of giving entitlement to a reimbursement or reducing the amount of the fees chargeable or of a contribution due under the Act or under the regulations or by-laws made thereunder.

O.C. 1865-93, s. 37.

§ 3 . — Decision and notice

38. The secretary of the discipline committee of the Association shall send to the secretary of the Association, without delay, a copy of any decision of the discipline committee or of the Court of Québec ordering the suspension or cancellation of a real estate broker’s or agent’s certificate.

O.C. 1865-93, s. 38.

39. The secretary of the Association shall, following the suspension or cancellation of a certificate, send a written notice to the natural person, partnership or legal person whose certificate has been suspended or cancelled. That notice shall be sent by registered mail or shall be served in accordance with the Code of Civil Procedure (chapter C-25), and shall state the cause and effective date of the suspension or cancellation.

A notice of that suspension or cancellation shall also be sent to each member of the Association.

The notice provided for in the second paragraph shall state the name of the natural person, partnership or legal person holding the certificate and, in the case of a natural person or a legal person, where applicable, any other name that he or it intends to use in Québec in the course of his or its activities, the address of his or its principal place of business, of his or its head office and principal establishment in Québec, of the place of business to which the certificate holder is assigned, where applicable, the category of certificate held, and the cause and effective date of the suspension or cancellation.

Such a notice is deemed to be validly sent to each member if it is published or inserted in an official or regular publication sent by the Association to each of its members. Where that notice is published, it shall be framed by a box covering at least 2 columns and shall be entitled “NOTICE OF SUSPENSION OR CANCELLATION OF CERTIFICATE”.

O.C. 1865-93, s. 39.

§ 4 . — Renewal of a certificate

40. A certificate holder wishing to have a real estate broker’s or agent’s certificate renewed shall apply for renewal thereof to the Association in writing prior to the expiry date of the certificate. The applicant shall fulfil the following conditions:

(1)  in the case of the holder of a chartered real estate broker’s certificate, the conditions provided in sections 8, 10 or 12, depending on whether the certificate holder is a natural person, a partnership or a legal person;

(2)  in the case of the holder of an affiliated real estate broker’s certificate, the conditions provided for in section 14;

(3)  in the case of the holder of a certificate for a real estate broker restricted to loans secured by immovable hypothec, the conditions provided for in section 16;

(4)  in the case of the holder of a chartered real estate agent’s certificate, the conditions provided for in section 18;

(5)  in the case of the holder of an affiliated real estate agent’s certificate, the conditions provided for in section 20;

(6)  in the case of the holder of a certificate for a real estate agent restricted to loans secured by immovable hypothec, the conditions provided for in section 22; and

(7)  pay the fees provided for in Chapter I of the By-law respecting chargeable fees and specialist titles of the Association des courtiers et agents immobiliers du Québec for the renewal of a certificate, as well as the contributions to the Fonds d’indemnisation provided for in Chapter V of the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1).

An application for renewal of a certificate may be accepted after the date provided for in the first paragraph if the applicant shows that it was impossible for him to act prior to that date.

O.C. 1865-93, s. 40.

41. A certificate holder referred to in section 40 shall also send with his application any information or document that represents a change in relation to those sent at the time of the application for a certificate or of the most recent renewal, accompanied by a solemn affirmation attesting to their accuracy.

O.C. 1865-93, s. 41.

§ 5 . — Reinstatement of a certificate

42. For a suspended real estate broker’s or agent’s certificate to be reinstated, the cause that gave rise to the suspension must no longer exist or, where applicable, the period of the suspension must have elapsed. In addition, the holder of that certificate shall, prior to the expiry date of the certificate, apply to the Association in writing for reinstatement thereof and shall fulfil the following conditions:

(1)  in the case of the holder of a chartered real estate broker’s certificate, the conditions provided for in sections 8, 10 or 12, depending on whether the certificate holder is a natural person, a partnership or a legal person;

(2)  in the case of the holder of an affiliated real estate broker’s certificate, the conditions provided for in section 14;

(3)  in the case of the holder of a certificate for a real estate broker restricted to loans secured by immovable hypothec, the conditions provided for in section 16;

(4)  in the case of the holder of a chartered real estate agent’s certificate, the conditions provided for in section 18;

(5)  in the case of the holder of an affiliated real estate agent’s certificate, the conditions provided for in section 20;

(6)  if the case of the holder of a certificate for a real estate agent restricted to loans secured by immovable hypothec, the conditions provided for in section 22, and

(7)  pay the fees provided for in Chapter I of the By-law respecting chargeable fees and specialist titles of the Association des courtiers et agents immobiliers du Québec for the reinstatement of a certificate.

O.C. 1865-93, s. 42.

43. Notwithstanding section 42, the holder of a real estate broker’s or agent’s certificate may have his certificate reinstated where the cause of the suspension ceases to exist after the expiry date of the certificate or where the suspension ends after that date, provided that he applies to the Association within 12 months following the beginning of the suspension and fulfils the other conditions provided for in section 42.

The holder of a certificate referred to in the first paragraph shall pay the fees provided for in subparagraph 7 of the first paragraph of section 40 when he pays the fees provided for in paragraph 7 of section 42.

O.C. 1865-93, s. 43.

44. A certificate holder referred to in sections 42 and 43 shall also send with his application any document demonstrating that he fulfils the conditions provided for in paragraphs 1 to 7 of section 42, as well as any information or document that represents a change in relation to those sent at the time of the application for a certificate or of the most recent renewal, accompanied by a solemn affirmation attesting to their accuracy.

O.C. 1865-93, s. 44.

§ 6 . — Notice

45. Whenever an affiliated real estate broker’s certificate or a real estate agent’s certificate is the subject of a suspension, cancellation, renewal, non-renewal, refusal to renew, reinstatement or refusal to reinstate, the Association shall notify the holder of a chartered real estate broker’s certificate or of a certificate for a multidisciplinary firm whose name appears on the certificate in question.

O.C. 1865-93, s. 45.

46. Whenever the Association refuses to renew a real estate broker’s or agent’s certificate or to reinstate such a certificate, it shall, in writing, notify the natural person, partnership or legal person, as the case may be, stating the grounds for the refusal. That notice shall be sent by any means providing proof of the date of receipt.

O.C. 1865-93, s. 46.

CHAPTER II RULES FOR THE PREPARATION OF EXAMINATIONS TO BE TAKEN BY PERSONS APPLYING FOR A CERTIFICATE

47. The examination provided for in section 79 of the Act shall be prepared by the Association and shall deal with the subjects prescribed in the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1) for each category of certificate.

O.C. 1865-93, s. 47.

48. The Association shall prepare several examinations, each dealing with all the subjects prescribed for each category of certificate.

O.C. 1865-93, s. 48.

49. The examination provided for in section 79 of the Act shall be approved by the Inspector General of Financial Institutions and shall be designed to determine whether the candidate has the qualifications required under the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1) for a given category of certificate. All or part of that examination may be on hard copy or on computer media.

O.C. 1865-93, s. 49.

50. The Association shall publish one or more manuals dealing with the subject matter provided for.

O.C. 1865-93, s. 50.

51. The Association shall notify the candidate in writing of his examination result. If the candidate fails the examination, that notice shall be sent by any means providing proof of the date of receipt.

O.C. 1865-93, s. 51.

52. If the candidate fails the examination, he is entitled to take a supplemental examination within 3 months following the date of the initial examination. If the candidate fails the supplemental examination, he may not file a new application for a certificate or take another examination until 6 months after the date of the supplemental examination.

O.C. 1865-93, s. 52.

CHAPTER III SECURITY

DIVISION I GENERAL PROVISIONS

53. The holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate shall at all times maintain security as a guarantee against the pecuniary consequences of the civil liability that he may incur by reason of any fault, error, negligence or omission committed in the course of his activities as a real estate broker or that may be committed in the performance of their duties by his employees or representatives or by persons that he has authorized to act on his behalf, whether currently or in the past.

Such security shall consist of professional civil liability insurance or, where 3 or more insurers have refused to issue an insurance contract to the certificate holder, of security in the form of an insurance policy that stands in lieu thereof.

O.C. 1865-93, s. 53.

54. The amount of the security shall be at least $100,000, per claim and at least $500,000, for all claims over a 12-month period.

O.C. 1865-93, s. 54.

DIVISION II CIVIL LIABILITY INSURANCE

55. A professional civil liability insurance contract shall contain the following stipulations:

(1)  the guarantee shall cover the pecuniary consequences of the civil liability provided for in section 53;

(2)  the insurer shall take up the defence of any person or partnership entitled to the benefit of the insurance and shall defend that person or partnership in any legal action filed against that person or partnership; the costs and expenses of any legal action, including those of the defence, as well as interest on the amount of the insurance, shall be borne by the insurer in addition to the amounts provided for in section 54;

(3)  the guarantee shall extend to services rendered prior to the coming into force of the insurance policy and to failure to render services;

(4)  the guarantee shall extend to any claim filed with the insurer in the 3 years following the insurance period during which a certificate holder referred to in section 53 ceases to act as a real estate broker;

(5)  the insurer shall notify the Association in writing of any amendment to the contract as soon as it occurs;

(6)  the insurer shall notify the Association in writing of any claim received and of any settlement of a claim, including all the related details; and

(7)  the insurer shall notify the Association in writing of the cancellation or non-renewal of the contract at least 60 days prior to that cancellation or not later than 30 days following that non-renewal, as the case may be; that notice shall be accompanied by written proof that such a notice was also sent to a certificate holder referred to in section 53.

O.C. 1865-93, s. 55.

56. The insurance contract may provide for a deductible not exceeding $5,000.

Notwithstanding the first paragraph, the deductible may be greater than $5,000. In such case, a certificate holder referred to in section 53 shall at all times maintain net liquid assets at least equal to the amount of the deductible stipulated in his insurance contract.

For the purposes of this section, “net liquid assets” means the amount by which liquid assets exceed total short-term liabilities.

O.C. 1865-93, s. 56.

57. A certificate holder referred to in section 53 who holds an insurance contract covering his professional civil liability shall, not later than on the expiry date of that contract, supply the Association with proof that it has been renewed for at least 12 months, or with a copy of a new insurance contract covering at least 12 months.

O.C. 1865-93, s. 57.

DIVISION III SURETYSHIP

58. Suretyship shall be supplied by means of an insurance policy issued in favour of the Association in trust.

O.C. 1865-93, s. 58.

59. A certificate holder referred to in section 53 shall, not later than on the expiry date of the insurance policy, supply the Association with proof that it has been renewed or with a new insurance policy or with a copy of a professional civil liability insurance contract covering a period of at least 12 months.

O.C. 1865-93, s. 59.

60. An insurance policy shall contain the following stipulations:

(1)  the guarantee shall cover the pecuniary consequences of the civil liability provided for in section 53;

(2)  the guarantee shall extend to services rendered prior to the coming into force of the insurance policy and to failure to render services;

(3)  the guarantee shall extend to any claim filed within 3 years following the insurance period during which a certificate holder referred to in section 53 ceases to act as a real estate broker;

(4)  the surety shall notify the Association in writing of any amendment to the contract as soon as it occurs;

(5)  the surety shall notify the Association in writing of the cancellation or non-renewal of the contract at least 60 days prior to that cancellation or not later than 30 days following that non-renewal, as the case may be; that notice shall be accompanied by written proof that such a notice was sent to a certificate holder referred to in section 53.

O.C. 1865-93, s. 60.

61. Should legal action based on the liability referred to in section 53 be taken against a certificate holder referred to in that section, the certificate holder shall notify the Association without delay, shall supply it with a copy of the proceedings and shall demonstrate to it that the surety has been informed of the legal action. The certificate holder shall proceed in the same manner where a judgment becomes enforceable against him.

O.C. 1865-93, s. 61.

DIVISION IV INSURANCE PREMIUM

O.C. 457-2006, s. 1.

61.1. The holder of a real estate broker’s certificate, other than the certificate referred to in the second paragraph of section 15 of the Real Estate Brokerage Act (chapter C-73.1), must, in accordance with the second paragraph of section 5 of the Act, pay to the Liability Insurance Fund an annual premium of $550 for himself, for each holder of a chartered or affiliated real estate agent’s certificate or a real estate broker’s certificate in his employ or authorized to act on his behalf, for a representative referred to in section 7 of the Act and for each person who manages an establishment or who acts as an assistant to the person managing an establishment referred to in section 13 of the Act.

O.C. 457-2006, s. 1.

CHAPTER IV CONDITIONS FOR THE CARRYING ON OF THE ACTIVITY OF REAL ESTATE BROKER

62. For the purpose of carrying on the activity of real estate broker, a person shall not hold more than one certificate of any category of certificate issued under the Act.

O.C. 1865-93, s. 62.

63. To carry on the activity provided for in section 1 of the Act, a natural person who represents a chartered real estate broker or a multidisciplinary firm holding a certificate provided for in any of paragraphs 5 to 16 of section 1 of the Regulation respecting multidisciplinary firms for the purposes of the Act, or who manages a place of business or acts as an assistant to a person who manages a place of business shall hold an affiliated real estate broker’s certificate or a chartered real estate agent’s certificate.

O.C. 1865-93, s. 63.

64. The holder of a chartered real estate broker’s certificate may not have more places of business than holders of an affiliated real estate broker’s certificate or of a chartered or affiliated real estate agent’s certificates in his employ or authorized to act on his behalf.

O.C. 1865-93, s. 64.

65. The holder of a real estate broker’s or agent’s certificate shall, without delay, provide the Association with any amendment to any of the information or documents that he has sent to the Association.

O.C. 1865-93, s. 65.

66. Where the holder of a chartered real estate broker’s certificate reassigns the holder of an affiliated real estate broker’s certificate or of a chartered or affiliated real estate agent’s certificate from one place of business to another, he shall notify the Association in writing without delay.

O.C. 1865-93, s. 66.

67. Where the holder of an affiliated real estate broker’s certificate or of a real estate agent’s certificate ceases to be employed by or to be authorized to act on behalf of a holder of chartered real estate broker’s certificate, of a certificate for a real estate broker restricted to loans secured by immovable hypothec or of a certificate for a multidisciplinary firm, the latter certificate holder shall notify the Association in writing without delay, specifying the cause of that cessation.

O.C. 1865-93, s. 67.

68. Where a real estate broker’s certificate other than an affiliated real estate broker’s certificate is suspended, its holder shall not carry on the activity of real estate broker or use the title, where applicable, of chartered real estate broker or of real estate broker restricted to loans secured by immovable hypothec.

O.C. 1865-93, s. 68.

69. Where an affiliated real estate broker’s certificate is suspended, its holder may not engage in a transaction referred to in section 1 of the Act in respect of the holder of a chartered real estate broker’s certificate or of a certificate for a multidisciplinary firm, nor may he use the title of affiliated real estate broker.

O.C. 1865-93, s. 69.

70. Where a real estate agent’s certificate is suspended, the holder may not engage in a transaction referred to in section 1 of the Act in respect of the holder of a chartered real estate broker’s certificate, of a certificate for a real estate broker restricted to loans secured by immovable hypothec or of a certificate for a multidisciplinary firm, nor may he use the title, where applicable, of chartered real estate agent, of affiliated real estate agent or of real estate agent restricted to loans secured by immovable hypothec.

O.C. 1865-93, s. 70.

71. The holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate shall refrain from

(1)  accepting, directly or indirectly, compensation from a person who carries on or attempts to carry on the activity of real estate broker without being

(a)  the holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate;

(b)  the holder of a certificate for a multidisciplinary firm provided for in any of paragraphs 5 to 16 of section 1 of the Regulation respecting multidisciplinary firms; or

(c)  a real estate broker who carries on his activities outside Québec and comes under another jurisdiction;

(2)  paying, directly or indirectly, compensation to a person who carries on or attempts to carry on the activity of real estate broker or agent without holding a certificate; and

(3)  paying, directly or indirectly, compensation to the holder of an affiliated real estate broker’s certificate or of a real estate agent’s certificate who is not in his employ or who is not authorized to act on his behalf.

O.C. 1865-93, s. 71.

72. The holder of an affiliated real estate broker’s certificate or of a real estate agent’s certificate shall refrain from

(1)  sharing his compensation directly or indirectly; and

(2)  accepting compensation directly or indirectly, from a person other than the holder of a chartered real estate broker’s certificate, of a certificate for a real estate broker restricted to loans secured by immovable hypothec or of a certificate for a multidisciplinary firm that employs him or authorizes him to act on his behalf.

O.C. 1865-93, s. 72.

73. The holder of a real estate broker’s or agent’s certificate shall produce his certificate on request.

O.C. 1865-93, s. 73.

74. The holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate shall post his certificate, or a copy thereof, on a wall of each of his places of business and in each of his establishments, so that it is visible to any person entering that place of business or establishment.

O.C. 1865-93, s. 74.

75. The holder of a chartered real estate broker’s certificate to whom a brokerage contract has been awarded shall notify the contracting party in writing

(1)  of any change in the identity of the holder of an affiliated real estate broker’s certificate or of a chartered or affiliated real estate agent’s certificate who is responsible for representing him with the contracting party; and

(2)  of any change in the address of the place of business to which the holder of an affiliated real estate broker’s certificate or of a chartered or affiliated real estate agent’s certificate who is responsible for representing him with the contracting party is assigned.

O.C. 1865-93, s. 75.

76. Where a brokerage contract other than a brokerage contract referred to in Chapter III of the Act is awarded in writing to the holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate, the certificate holder shall

(1)  include in the contract a provision to the effect that it expires at a specific date and time; and

(2)  give a duplicate of the contract to the contracting party.

O.C. 1865-93, s. 76.

77. The holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate shall give the contracting party a copy of any document containing information used to describe the immovable, stock-in-trade or loan secured by immovable hypothec covered by the brokerage contract.

The copy shall be sent as soon as the document is drawn up and shall contain only information known to the real estate broker.

If the contract contains a provision to the effect that the real estate broker is obliged to send the information therein to a multiple listing service or to a similar service of a real estate board or of any other organization for distribution to the members subscribing to such a service, a copy of the relevant page of the document published shall be sent as soon as the information has been distributed by any of those services.

If an error or omission is found in the document, the certificate holder shall make the necessary changes as soon as possible.

The certificate holder shall also give the contracting party a new copy of the document as soon as a change is made thereto.

Where the document contains abbreviations, the certificate holder shall also provide the contracting party with a document stating their meaning.

The certificate holder, his real estate agent or his affiliated real estate broker shall, where applicable, check the information and documents that it provides to the parties to a real estate transaction.

O.C. 1865-93, s. 77.

78. Subject to section 39 of the Real Estate Brokerage Act (chapter C-73.1), the holder of a real estate broker’s or agent’s certificate shall, as soon as possible, submit to the prospective contracting party any transaction proposal that he receives. He shall do so through the holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate retained by the prospective contracting party to act as an intermediary, unless the certificate holder gives written authorization to the contrary.

Where the holder of a real estate broker’s or agent’s certificate receives more than one transaction proposal in writing, he shall submit each proposal without regard to the chronological order of receipt, the identity of the holder of a real estate broker’s or agent’s certificate that took the proposal, or the circumstances in which the proposal was taken.

O.C. 1865-93, s. 78.

79. Unless the holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate has sent to the Association, in accordance with section 126, a declaration to the effect that he does not intend to receive any sums on behalf of others in the performance of his duties, the holder of a real estate broker’s or agent’s certificate shall, when acting as an intermediary with regard to a transaction referred to in section 1 of the Act, recommend that a reasonable deposit be paid in trust to the holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate to whom the brokerage contract was awarded, unless that certificate holder gives instructions to the contrary.

The first paragraph also applies to the holder of an affiliated real estate broker’s certificate or of a real estate agent’s certificate who is employed by or authorized to act on behalf of a multidisciplinary firm holding a certificate provided for in any of paragraphs 5 to 10 of section 1 of the Regulation respecting multidisciplinary firms, unless the latter certificate holder has sent to the Inspector General, in accordance with section 20.23 of that Regulation, a declaration to the effect that it does not intend to receive any sums on behalf of others in the course of its activities.

O.C. 1865-93, s. 79.

CHAPTER V SITUATIONS IN WHICH A PERSON MANAGING A PLACE OF BUSINESS MUST DEVOTE HIMSELF EXCLUSIVELY TO HIS MANAGERIAL DUTIES

80. A natural person who manages a place of business shall devote himself exclusively to his managerial duties in any of the following situations:

(1)  where 15 or more persons who have held an affiliated real estate agent’s certificate for less than 2 years are assigned to that place of business;

(2)  where 25 or more persons who have held an affiliated real estate agent’s certificate for any length of time are assigned to that place of business; or

(3)  where 30 or more persons who hold an affiliated real estate broker’s certificate or a chartered or affiliated real estate agent’s certificate are assigned to that place of business.

O.C. 1865-93, s. 80.

CHAPTER VI TERMS AND CONDITIONS RELATING TO DISCLOSURE OF A PERSON’S QUALITY AS A REAL ESTATE BROKER OR AGENT

81. For the purposes of the disclosure provided for in section 22 of the Act, the holder of a real estate broker’s or agent’s certificate other than the certificates provided for in paragraphs 2 and 6 of section 1, shall send to the prospective contracting party, without delay, by any means providing proof of the date of receipt, a written notice indicating in legible print

(1)  the name of the natural person, partnership or legal person holding the real estate broker’s or agent’s certificate;

(2)  the category and number of the real estate broker’s or agent’s certificate that he holds;

(3)  the address of his place of business or of the place of business to which he is assigned, including the postal code and the corresponding telephone number;

(4)  the name of the holder of a real estate broker’s certificate or of a certificate for a multidisciplinary firm that employs him or on whose behalf he is authorized to act;

(5)  the name of the natural person, partnership or legal person that is the prospective contracting party, as well as his or its address, including the postal code;

(6)  the identification of the immovable being purchased, sold or exchanged;

(7)  the nature of the transaction concerning the immovable being purchased, sold or exchanged;

(8)  whether he is carrying on his occupation, and in what capacity;

(9)  the nature of any direct or indirect interest that he owns or plans to acquire in the immovable being purchased, sold or exchanged;

(10)  the length of time for which he has owned that interest in the immovable being purchased, sold or exchanged;

(11)  a statement to the effect that he attests to the accuracy of the information disclosed in the written notice;

(12)  his signature or, where the certificate holder is a partnership or a legal person, the signature of the natural person designated to represent it for the purposes of the Act or the signature of any member that it employs or authorizes to act on its behalf and that it has specifically designated for that purpose; and

(13)  the date on which the notice was signed.

O.C. 1865-93, s. 81.

82. The holder of a real estate broker’s or agent’s certificate other than those provided for in paragraphs 2 and 6 of section 1 shall, as soon as possible, send the Association one of the 4 copies of the notice referred to in section 81 at the same time that he sends what is provided for in section 23 of the Act.

O.C. 1865-93, s. 82.

83. The holder of an affiliated real estate broker’s certificate or of a chartered or affiliated real estate agent’s certificate shall send a copy of the written notice provided for in section 81 to the holder of a chartered real estate broker’s certificate or of a certificate for a multidisciplinary firm that employs him or on whose behalf he is authorized to act, to the natural person designated to represent the latter certificate holder for the purposes of the Act or to the natural person who manages the place of business to which he is assigned.

O.C. 1865-93, s. 83.

84. The holder of a chartered real estate broker’s certificate shall keep on file a copy of the written notice provided for in section 81.

O.C. 1865-93, s. 84.

CHAPTER VII CONTENT, FORM AND USE OF MANDATORY FORMS DESIGNATED IN THE REGULATION RESPECTING THE APPLICATION OF THE REAL ESTATE BROKERAGE ACT

DIVISION I CONTENT

EXCLUSIVE BROKERAGE CONTRACT — SALE OF A CHIEFLY RESIDENTIAL IMMOVABLE

85. In addition to the particulars provided for in Chapter III of the Act and those provided for in Chapter IV of the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1), the form entitled “Exclusive Brokerage Contract – Sale of a Chiefly Residential Immovable”, provided for in subparagraph 2 of the first paragraph of section 26 of the Regulation respecting the application of the Real Estate Brokerage Act and applying to an exclusive brokerage contract between a natural person and a broker under which the broker undertakes to act as an intermediary for the sale of

(1)  part or all of a chiefly residential immovable containing less than 5 dwellings; or

(2)  a fraction of a chiefly residential immovable that is the subject of a declaration of co-ownership provided for in articles 1038 to 1109 of the Civil Code of Québec;

shall contain the following provisions:

(1)  concerning its object and term:

“Object and term of contract

The seller retains the services of the real estate broker to act as an exclusive intermediary for the sale of the immovable covered by this brokerage contract.

This contract terminates at 11:59 p.m. on.”;

(2)  concerning the summary description of the immovable:

“Summary description of immovable

Address: (number, street, locality) ____________________; The immovable, with constructions erected thereon and appurtenances, is designated as follows:

Cadastral designation: (number of lot, part of lot, subdivision) (name of official cadastre) measuring ____________________ , for an area of ____________________ . Hereinafter called “the immovable”.

If the immovable is held in co-ownership, complete the following:

The immovable is held in:

□ divided co-ownership

□ undivided co-ownership for a share equal to __________%.

The immovable held in co-ownership has parking space(s) (nos. __________) and ____________________ storage space(s) (nos. __________).”;

(3)  concerning the price:

“Price

The sale price asked is ____________________ ($__________), which shall be paid in full, in cash, upon the signing of the act of sale, unless another method of payment is provided for, as follows:

Any goods and services tax, Québec sales tax or other tax that may be imposed as a result of the sale of the immovable and to be collected by the seller under the applicable taxation laws shall be remitted by the buyer to the seller upon the signing of the act of sale.

The costs relating to the repayment and cancellation of any debt secured by hypothec, prior claim or any other real right affecting the immovable shall be borne by the seller where payment of such costs will not be assumed by the buyer.

The costs relating to repayment include any penalty exigible for early repayment.

Inclusions: included in the sale are:

(1) heating, electrical and lighting installations of a permanent nature;

(2) other inclusions:

Exclusions: excluded from the sale are:

(1) curtain rods and blinds;

(2) other exclusions:

(3) the following appliances are covered by a leasing contract: (indicate hereinafter the appliances, the lessors and other useful information)

In the case of an immovable held in divided co-ownership, there shall be no adjustments in respect of any fund whatsoever of the co-ownership.”;

(4)  concerning the date of taking possession and the date of signing the act of sale:

“Taking possession and signing of the act of sale:

Date or deadline for taking possession:

Date or deadline for signing the act of sale:

(5)  concerning the possible use of a multiple listing service:

“Multiple listing service

The seller shall indicate hereinafter, by initialling the appropriate box, his choice concerning the possible use of a multiple listing service or a similar service, for distribution to the members subscribing to such a service.

YES, I want the broker to use the multiple listing service of the real estate board of __________, or a similar service of that board or of (identification of organization), for distribution to the members subscribing to such a service;

NO, I do not want the broker to use a multiple listing service or a similar service, for distribution to the members subscribing to such a service.

Where the seller wants the broker to use a multiple listing service, the broker shall, without delay, send the information in this contract to the multiple listing service concerned.”;

(6)  concerning the real estate broker’s compensation:

“Real estate broker’s compensation

The seller shall pay to the broker, in the cases provided for in 1, 2 and 3 of this section, upon the signing of the act of sale, compensation of:

percent (__________%) of the sale price provided for in section (indicate the number of the contract provision establishing the sale price) or of another sale price to which the seller agrees in writing: or ____________________ dollars ($__________):

(1)  where a promise to purchase conforming to the conditions of sale set out in this brokerage contract (and in any amendments thereto) is submitted to the seller during the term of this contract and in fact leads to the sale of the immovable; or

(2)  where an agreement concerning the sale of the immovable is concluded during the term of this contract, whether through the broker or not, and in fact leads to the sale of the immovable; or

(3)  where a sale takes place, within 180 days following the expiry date of this contract, with a person who was interested in the immovable during the term of this contract, unless, during that period, the seller concluded with another real estate broker a contract stipulated to be exclusive for the sale of the immovable.

Nothing stipulated in section (indicate the number of the contract provision containing the text provided for in the first paragraph of this paragraph) shall be interpreted as restricting the broker’s right to obtain, where applicable, payment of any sums of money that may be due to him as compensation or damages under the ordinary rules of ordinary law, particularly, but without limiting the generality of the foregoing, where a sale does not take place because the seller voluntarily blocks it or otherwise voluntarily prevents the free performance of this contract.

Any goods and services tax, Québec sales tax or other tax that may be imposed as a result of services rendered by the broker shall be added to the compensation referred to in section (indicate the number of the contract provision containing the text provided for in the first paragraph of this paragraph) and shall be remitted to the broker by the seller in accordance with the provisions of the applicable taxation laws.”;

(7)  concerning the declarations by the seller:

“Declarations by the seller

The seller declares that, to the best of his knowledge, the information contained in this contract is accurate.

The seller also declares that, unless stipulated otherwise hereinafter:

(In view of the importance of the following declarations, the seller should ensure that each of the following paragraphs reflects as accurately as possible the situation as he knows it and should, where required, make any amendments or additions that may be required to achieve that result).

(1)  he is not aware of any factor relating to the immovable and liable to significantly reduce the value thereof, reduce the income generated thereby or increase the expenses related thereto, except:

(2)  he has not received any notice from a competent authority indicating that the immovable does not conform to the laws and regulations in force, or any notice from an insurer, following which he has not fully remedied the defect declared in either notice, except:

(3)  he is not a non-resident of Canada within the meaning of the provincial and federal taxation laws;

(4)  the municipality concerned provides water and sewer services to the immovable;

(5)  he is the sole owner of the immovable or is duly authorized to sign this contract and to accept any promise to purchase relating to the immovable;

(6)  the immovable is not the subject of a brokerage contract with another broker, of a promise to purchase, exchange or lease, or of a lease containing a right to preference or a right of first refusal in favour of a third party;

(7)  to the best of his knowledge and subject to what the usual verifications to be carried out by the broker or by any person acting on his behalf or on behalf of a prospective buyer may reveal, the immovable is free of any debt, prior claim, hypothec, servitude, real right, charge or other restriction of private law other than the usual and apparent servitudes of public utility, except:

(Indicate debts first, followed by the other restrictions of private law that may affect the immovable, specifying the nature of the right, the holder of the right, and any other useful information.)

(8)  to the best of his knowledge and subject to what the usual verifications to be carried out by the real estate broker or by any person acting on his behalf or on behalf of a prospective buyer may reveal, the only restrictions of public law that are exceptions to ordinary law and that may affect the immovable are:

(Indicate restrictions of public law that are exceptions to ordinary law and that may affect the immovable under, for example, but without limiting the generality of the foregoing, municipal zoning and subdivision by-laws, the Cultural Property Act, the laws and regulations relating to environmental protection …)

(9)  that, as soon as he becomes aware thereof, he will supply the broker with any additional information that, to the best of his knowledge, is liable to reveal a restriction of private law or a restriction of public law that is an exception to ordinary law, that affects the immovable and that is not declared under the terms of this contract;

(10)  in the case of an immovable under lease, the seller makes the following declarations:

(a)  the rents bring in at least ____________________ dollars ($__________) per year and the leases expire on

(b)  no notice liable to amend the leases has been sent by either of the parties and no proceedings are pending before the Régie du logement;

(c)  he has not received any notice from a lessee or from the spouse of a lessee to the effect that the immovable or part thereof is used as a family residence.”;

(8)  concerning the obligations of the seller:

“Obligations of the seller

During the term of this contract, the seller undertakes not to, directly or indirectly:

(1)  offer the immovable for sale on his own or through a person other than the broker;

(2)  become party to an agreement concerning the sale, exchange or lease of the immovable otherwise than through the broker.

Where requested by the broker, the seller shall supply to the broker the following documents in his possession: purchase contract and any other title of ownership, real estate tax receipts, lease, loan and hypothecary security contract, certificate of location (or an extract therefrom describing the divided co-ownership portion), plan, service contract, proxy, the co-ownership’s latest financial statements, declaration of co-ownership including the by-laws of an immovable held in co-ownership and, generally, any documents in his possession attesting to the validity of his title and establishing any restriction of private law and any restriction of public law that is an exception to ordinary law and that may affect the immovable, and any documents that may be required for any adjustments to be made at the time of the sale.

The seller gives the broker the exclusive right:

(1)  to show the immovable at any reasonable time, with any appointment being arranged directly with the occupant of the premises. The broker may allow other brokers to exercise that right in whole or in part;

(2)  subject to the restrictions set out hereinafter, to do any advertising that he considers appropriate, such as posting a sign indicating that the immovable is for sale or is sold. The broker may allow other brokers to exercise that right in whole or in part.

The right to post a sign is subject to any applicable regulations or by-laws, such as municipal by-laws or co-ownership by-laws;

(3)  to obtain from the hypothecary creditor any information or documents concerning his hypothecary loan and, for that purpose, the seller authorizes the hypothecary creditor to supply the broker with that information or those documents.

Subject to the provisions of the following paragraph, the immovable is offered for sale subject to the real rights, charges and other restrictions of private law affecting the immovable, particularly, and without limiting the generality of the foregoing, those referred to herein and those that the usual verifications may reveal.

The seller undertakes, should the immovable be sold, to free the immovable of the prior claims, hypothecs or other real rights securing the payment of a debt affecting the immovable, unless the buyer has assumed the reimbursement of the debt thus secured.

The immovable is also offered for sale subject to any restriction of public law that is an exception to ordinary law and that affects the immovable and to any violations of such a restriction, particularly, and without limiting the generality of the foregoing, any restriction of that nature referred to herein or that the usual verifications may reveal.

The seller shall also supply the buyer with a copy of the act of acquisition of the immovable and with a copy of the earlier titles in his possession. Where the immovable is held in divided co-ownership, the seller shall also supply the buyer with a copy of the declaration of co-ownership, including the by-laws of the immovable.”;

(9)  concerning the obligations of the broker:

“Obligations of the broker

In accordance with standard practice in his field, the broker undertakes

(1)  to offer the immovable for sale honestly, diligently and competently;

(2)  to submit to the seller, as soon as possible, any promise to purchase relating to the immovable covered by this contract;

(3)  to inform the seller verbally, on a regular basis, of the state of performance of this contract;

(4)  to check beforehand all facts or information mentioned in advertising relating to the sale of the immovable covered by this contract;

(5)  to send the seller a copy of any document or sheet describing the immovable and liable to be sent to any prospective buyer;

(6)  to obtain the seller’s written consent before advertising a sale price other than the sale price provided for in this contract;

(7)  not to use the word “sold” in any advertising, including advertising on a sign, unless a promise to purchase has been accepted and all the conditions of that promise, except the signing of the act of sale before a notary, have been fulfilled.

It is understood that any sign posted on the immovable must be removed as soon as this contract expires;

(8)  to send the seller proof that the information relating to this contract has been sent to a multiple listing service or to a similar service agreed to, where the seller has requested such a service;

(9)  to inform the seller in writing, without delay, of any interest that he owns or plans to acquire, whether directly or indirectly, in the immovable covered by this contract;

(10)  to inform the seller in writing, without delay, of any compensation, other than that referred to in this contract, that he has received or hoped to receive in connection with the performance of this contract;

(11)  to inform the seller in writing, without delay, that he is also representing the buyer, for compensation, where a brokerage contract with the buyer exists;

(12)  to fulfil the following specific undertakings:

(For example, any promise, guarantee or other advantage offered by the broker to the seller or buyer of the immovable, for consideration or free of charge …)

(Indicate below the advertising that the broker undertakes to do in respect of the immovable, at his expense, and any guarantee or other advantage offered by the broker to the seller or buyer of the immovable, for consideration or free or charge …)

(13)  to fulfil his undertaking to purchase the immovable under the terms and conditions set out hereinafter and, in such case, not to claim, whether directly or indirectly, any compensation for doing so;

(Where the broker undertakes to purchase the immovable, the terms and conditions of that purchase must be set out hereinafter.)

(14)  to notify the seller without delay, where applicable, that he has authorized another broker to do any advertising agreed to in this contract and relating to the sale of the immovable;

(15)  to notify the seller in writing, without delay, that the agent or broker referred to in this contract as acting for and on behalf of the listing broker is no longer authorized to act on his behalf or is not longer able to act, and to provide the seller with the name of another real estate agent or affiliated real estate broker designated to replace him;

(16)  to notify the seller in writing, without delay, whether or not he agrees to cancel this contract, at the seller’s request, where the real estate agent or the affiliated real estate broker designated in this contract is no longer employed by him or authorized to act on his behalf;

(17)  to notify the seller in writing, without delay, if his real estate broker’s certificate is suspended, cancelled or not renewed or if he is otherwise unable to continue to act as a real estate broker; and

(18)  not to request any compensation from the seller where the immovable is sold to any of the persons designated hereinafter within (indicate the number of days) days following the signing of this contract.”.

O.C. 1865-93, s. 85.

DIVISION II CONTENT

NON-EXCLUSIVE BROKERAGE CONTRACT — SALE OF A CHIEFLY RESIDENTIAL IMMOVABLE

86. In addition to the particulars provided for in Chapter III of the Act and those provided for in Chapter IV of the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1), the form entitled “Non-Exclusive Brokerage Contract — Sale of a Chiefly Residential Immovable”, provided for in subparagraph 3 of the first paragraph of section 26 of the Regulation respecting the application of the Real Estate Brokerage Act and applying to a non-exclusive brokerage contract between a natural person and a broker under which the broker undertakes to act as an intermediary for the sale of

(1)  part or all of a chiefly residential immovable containing less than 5 dwellings; or

(2)  a fraction of a chiefly residential immovable that is the subject of a declaration of co-ownership provided for in articles 1038 to 1109 of the Civil Code of Québec;

shall contain the following provisions:

(1)  concerning its object and term:

“Object and term of contract

The seller retains the services of the real estate broker to act as a non-exclusive intermediary for the sale of the immovable covered by this brokerage contract.

Since this contract provides for no exclusivity in favour of the broker, the seller retains the right, even during the term of this contract, to offer the said immovable for sale or to sell it on his own or through any other person of his choice.

This contract terminates at 11:59 p.m. on __________.”;

(2)  concerning the summary description of the immovable:

“Summary description of immovable

Address: (number, street, locality) ____________________;

The immovable, with constructions erected thereon and appurtenances, is designated as follows:

Cadastral designation: (number of lot, part of lot, subdivision) (name of official cadastre) measuring ____________________ , for an area of ____________________. Hereinafter called “the immovable”.

If the immovable is held in co-ownership, complete the following:

The immovable is held in:

divided co-ownership

undivided co-ownership for a share equal to __________%.

The immovable held in co-ownership has parking space(s) (nos. __________) and ____________________ storage space(s) (nos. __________).”;

(3)  concerning the price:

“Price

The sale price asked is ____________________ ($__________), which shall be paid in full, in cash, upon the signing of the act of sale, unless another method of payment is provided for, as follows:

Any goods and services tax, Québec sales tax or other tax that may be imposed as a result of the sale of the immovable and to be collected by the seller under the applicable taxation laws shall be remitted by the buyer to the seller upon the signing of the act of sale.

The costs relating to the repayment and cancellation of any debt secured by hypothec, prior claim or any other real right affecting the immovable shall be borne by the seller where payment of such costs will not be assumed by the buyer.

The costs relating to repayment include any penalty exigible for early repayment.

Inclusions: included in the sale are:

(1) heating, electrical and lighting installations of a permanent nature;

(2) other inclusions:

Exclusions: excluded from the sale are:

(1) curtain rods and blinds;

(2) other exclusions:

(3) the following appliances are covered by a leasing contract: (indicate hereinafter the appliances, the lessors and other useful information)

In the case of an immovable held in divided co-ownership, there shall be no adjustments in respect of any fund whatsoever of the co-ownership.”;

(4)  concerning the date of taking possession and the date of signing the act of sale:

“Taking possession and signing of the act of sale:

Date or deadline for taking possession:

Date or deadline for signing the act of sale: ”;

(5)  concerning the possible use of a multiple listing service:

“Multiple listing service

The seller shall indicate hereinafter, by initialling the appropriate box, his choice concerning the possible use of a multiple listing service or a similar service, for distribution to the members subscribing to such a service.

YES, I want the broker to use the multiple listing service of the real estate board of (identification of organization), or a similar service of that board or of (identification of organization), for distribution to the members subscribing to such a service;

NO, I do not want the broker to use a multiple listing service or a similar service, for distribution to the members subscribing to such a service.

Where the seller wants the broker to use a multiple listing service, the broker shall, without delay, send the information in this contract to the multiple listing service concerned.”;

(6)  concerning the real estate broker’s compensation:

“Real estate broker’s compensation

The seller shall pay to the broker, upon the signing of the act of sale, compensation of:

percent (__________%) of the sale price provided for in section (indicate the number of the contract provision establishing the sale price) or of another sale price to which the seller agrees in writing; or ____________________ dollars ($__________):

if, during the term of this contract, the immovable is sold and the broker is the actual cause of the sale.

Any goods and services tax, Québec sales tax or other tax that may be imposed as a result of services rendered by the broker shall be added to the compensation referred to in section (indicate the number of the contract provision containing the text provided for in the first paragraph of this paragraph) and shall be remitted to the broker by the seller in accordance with the provisions of the applicable taxation laws.”;

(7)  concerning the declarations by the seller:

“Declarations by the seller

The seller declares that, to the best of his knowledge, the information contained in this contract is accurate.

The seller also declares that, unless stipulated otherwise hereinafter:

(In view of the importance of the following declarations, the seller should ensure that each of the following paragraphs reflects as accurately as possible the situation as he knows it and should, where required, make any amendments or additions that may be required to achieve that result).

(1)  he is not aware of any factor relating to the immovable and liable to significantly reduce the value thereof, reduce the income generated thereby or increase the expenses related thereto, except:

(2)  he has not received any notice from a competent authority indicating that the immovable does not conform to the laws and regulations in force, or any notice from an insurer, following which he has not fully remedied the defect declared in either notice, except:

(3)  he is not a non-resident of Canada within the meaning of the provincial and federal taxation laws;

(4)  the municipality concerned provides water and sewer services to the immovable;

(5)  he is the sole owner of the immovable or is duly authorized to sign this contract and to accept any promise to purchase relating to the immovable;

(6)  the immovable is not the subject of a promise to purchase, exchange or lease, or of a lease containing a right to preference or a right of first refusal in favour of a third party;

(7)  to the best of his knowledge and subject to what the usual verifications to be carried out by the broker or by any person acting on his behalf or on behalf of a prospective buyer may reveal, the immovable is free of any debt, prior claim, hypothec, servitude, real right, charge or other restriction of private law other than the usual and apparent servitudes of public utility, except:

(Indicate debts first, followed by the other restrictions of private law that may affect the immovable, specifying the nature of the right, the holder of the right, and any other useful information.)

(8)  to the best of his knowledge and subject to what the usual verifications to be carried out by the real estate broker or by any person acting on his behalf or on behalf of a prospective buyer may reveal, the only restrictions of public law that are exceptions to ordinary law and that may affect the immovable are:

(Indicate restrictions of public law that are exceptions to ordinary law and that may affect the immovable under, for example, but without limiting the generality of the foregoing, municipal zoning and subdivision by-laws, the Cultural Property Act, the laws and regulations relating to environmental protection …)

(9)  that, as soon as he becomes aware thereof, he will supply the broker with any additional information that, to the best of his knowledge, is liable to reveal a restriction of private law or a restriction of public law that is an exception to ordinary law, that affects the immovable and that is not declared under the terms of this contract;

(10)  in the case of an immovable under lease, the seller makes the following declarations:

(a)  the rents bring in at least ____________________dollars ($__________) per year and the leases expire on

(b)  no notice liable to amend the leases has been sent by either of the parties and no proceedings are pending before the Régie du logement;

(c)  he has not received any notice from a lessee or from the spouse of a lessee to the effect that the immovable or part thereof is used as a family residence.”;

(8)  concerning the obligations of the seller:

“Obligations of the seller

Where requested by the broker, the seller shall supply to the broker, or shall allow the broker to consult, at the location indicated by the seller, the following documents in the seller’s possession: purchase contract and any other title of ownership, real estate tax receipts, lease, loan and hypothecary security contract, certificate of location (or an extract therefrom describing the divided co-ownership portion), plan, service contract, proxy, the co-ownership’s latest financial statements, declaration of co-ownership including the by-laws of an immovable held in co-ownership and, generally, any documents in his possession attesting to the validity of his title and establishing any restriction of private law and any restriction of public law that is an exception to ordinary law and that may affect the immovable, and any documents that may be required for any adjustments to be made at the time of the sale.

The seller gives the broker the non-exclusive right:

(1)  to show the immovable at any reasonable time, with any appointment being arranged directly with the occupant of the premises. The broker may allow other brokers to exercise that right in whole or in part;

(2)  subject to the restrictions set out hereinafter, to do any advertising that he considers appropriate, such as posting a sign indicating that the immovable is for sale or is sold. The broker may allow other brokers to exercise that right in whole or in part.

The right to post a sign is subject to any applicable regulations or by-laws, such as municipal by-laws or co-ownership by-laws;

(3)  to obtain from the hypothecary creditor any information or documents concerning his hypothecary loan and, for that purpose, the seller authorizes the hypothecary creditor to supply the broker with that information or those documents.

Subject to the provisions of the following paragraph, the immovable is offered for sale subject to the real rights, charges and other restrictions of private law affecting the immovable, particularly, and without limiting the generality of the foregoing, those referred to herein and those that the usual verifications may reveal.

The seller undertakes, should the immovable be sold, to free the immovable of the prior claims, hypothecs or other real rights securing the payment of a debt affecting the immovable, unless the buyer has assumed the reimbursement of the debt thus secured.

The immovable is also offered for sale subject to any restriction of public law that is an exception to ordinary law and that affects the immovable and to any violations of such a restriction, particularly, and without limiting the generality of the foregoing, any restriction of that nature referred to herein or that the usual verifications may reveal.

The seller shall also supply the buyer with a copy of the act of acquisition of the immovable and with a copy of the earlier titles in his possession. Where the immovable is held in divided co-ownership, the seller shall also supply the buyer with a copy of the declaration of co-ownership, including the by-laws of the immovable.”;

(9)  concerning the obligations of the broker:

“Obligations of the broker

In accordance with standard practice in his field, the broker undertakes

(1)  to offer the immovable for sale honestly, diligently and competently;

(2)  to submit to the seller, as soon as possible, any promise to purchase relating to the immovable covered by this contract;

(3)  to inform the seller verbally, on a regular basis, of the state of performance of this contract;

(4)  to check beforehand all facts or information mentioned in advertising relating to the sale of the immovable covered by this contract;

(5)  not to use the word “sold” in any advertising, including advertising on a sign, unless a promise to purchase has been accepted and all the conditions of that promise, except the signing of the act of sale before a notary, have been fulfilled.

It is understood that any sign posted on the immovable must be removed as soon as this contract expires;

(6)  to inform the seller in writing, without delay, of any interest that he owns or plans to acquire, whether directly or indirectly, in the immovable covered by this contract;

(7)  to inform the seller in writing, without delay, of any compensation, other than that referred to in this contract, that he has received or hoped to receive in connection with the performance of this contract;

(8)  to inform the seller in writing, without delay, that he is also representing the buyer, for compensation, where a brokerage contract with the buyer exists;

(9)  to do, at his expense, the advertising described hereinafter: ”.

O.C. 1865-93, s. 86.

DIVISION III CONTENT

OTHER MANDATORY FORMS

87. The content of the form entitled “Promise to Purchase” is prescribed in Schedule 1, that of the form entitled “Annex A — Immovable” is prescribed in Schedule 2, that of the form entitled “Annex G — General” is prescribed in Schedule 3, that of the form entitled “Counter-Proposal to a Promise to Purchase” is prescribed in Schedule 4 and that of the form entitled “Amendments and Notice of Fulfilment of Conditions” is prescribed in Schedule 5.

O.C. 1865-93, s. 87.

DIVISION IV FORM AND USE

88. The mandatory forms provided for in section 26 of the Regulation respecting the application of the Real Estate Brokerage Act (chapter C-73.1, r. 1) shall be as described below:

(1)  a mandatory form shall be printed on paper measuring 216 by 356 mm;

(2)  each copy of a mandatory form shall provide space for the original signature or initials of each contracting party;

(3)  the left and right margins of a mandatory form shall not be less than 12 mm, the top margin not less than 21 mm and the bottom margin not less than 9 mm;

(4)  the side margins of each copy of a mandatory form shall be left blank;

(5)  the top margin of a mandatory form shall bear the logo of the Association or any other logo used by the real estate broker, the title of the mandatory form, and the words “Mandatory form for all real estate brokers and agents in Québec”. The logo shall measure not less than 12 mm by 12 mm and not more than 17 mm by 17 mm, and shall be aligned against the left or right margin. The title shall be printed in at least 12-point type and the words in a least 6-point type;

(6)  the number of a mandatory form, composed of 2 letters followed by 5 numerals, shall be printed in the bottom margin of each copy of the form, in at least 14-point type;

(7)  the text and lines indicating the spaces to be filled in shall be printed in black or charcoal grey ink, except for the section headings, which may be printed in ink of another colour. The text shall be printed in at least 7-point type.

O.C. 1865-93, s. 88.

89. The mandatory forms entitled “Exclusive Brokerage Contract — Sale of a Chiefly Residential Immovable” and “Non-Exclusive Brokerage Contract — Sale of a Chiefly Residential Immovable” shall be drawn up in at least 2 copies.

O.C. 1865-93, s. 89.

90. The mandatory forms entitled “Promise to Purchase”, “Annex A — Immovable”, “Annex G — General”, “Counter-Proposal to a Promise to Purchase” and “Amendments and Notice of Fulfilment of Conditions” shall be drawn up in at least 4 copies.

O.C. 1865-93, s. 90.

91. The holder of a real estate broker’s or agent’s certificate shall complete a mandatory form clearly and legibly, by hand or using a typewriter, a computer system or a printing system.

The certificate holder shall not use any abbreviation incomprehensible to the parties or leave any ambiguity as to whether certain terms and conditions in the form apply.

O.C. 1865-93, s. 91.

92. Where the holder of a real estate broker’s or agent’s certificate completes a mandatory form by hand, he shall use ink and shall write neatly to facilitate reading.

O.C. 1865-93, s. 92.

93. Where the holder of a real estate broker’s or agent’s certificate completes a mandatory form using a typewriter, a computer system or a printing system, he shall use at least 10-point type that is different from the type used for the mandatory content, so as to enable the parties to easily distinguish the text of any addition or amendment from the mandatory content of the form.

O.C. 1865-93, s. 93.

94. Where the holder of a real estate broker’s or agent’s certificate uses the mandatory form entitled “Annex A — Immovable”, “Annex G — General”, “Counter-Proposal to a Promise to Purchase” or “Amendments and Notice of Fulfilment of Conditions”, he shall indicate, in the space reserved for that purpose, the number of the mandatory form entitled “Exclusive Brokerage Contract — Sale of a Chiefly Residential Immovable”, “Non-Exclusive Brokerage Contract — Sale of a Chiefly Residential Immovable” or “Promise to Purchase”, as the case may be, to which reference is made.

O.C. 1865-93, s. 94.

95. Where the holder of a real estate broker’s or agent’s certificate strikes out an entry on a mandatory form, he shall have the strikeout initialled by the parties before they sign at the bottom of the form.

O.C. 1865-93, s. 95.

96. The additions or amendments that the holder of a real estate broker’s or agent’s certificate may make to a mandatory form shall pertain only to the object of the terms and conditions of that form.

O.C. 1865-93, s. 96.

97. The holder of a real estate broker’s or agent’s certificate shall, before having a mandatory form that he has completed signed, allow the parties to take cognizance of the terms and conditions of the form and, before the form is signed, provide all the explanations and answers to questions that the parties may ask.

O.C. 1865-93, s. 97.

98. The holder of a real estate broker’s or agent’s certificate shall not add anything to, amend or strike out anything from a mandatory form after the parties have signed at the bottom of the form.

O.C. 1865-93, s. 98.

99. The holder of a real estate broker’s or agent’s certificate shall use the mandatory form entitled “Amendments and Notice of Fulfilment of Conditions” where the parties wish to amend a mandatory form entitled “Exclusive Brokerage Contract — Sale of a Chiefly Residential Immovable”, “Non-Exclusive Brokerage Contract — Sale of a Chiefly Residential Immovable” or “Promise to Purchase” that they have already signed.

O.C. 1865-93, s. 99.

100. The holder of a real estate broker’s or agent’s certificate shall use the mandatory form entitled “Annex G — General” only to complete the terms and conditions of a mandatory form entitled “Exclusive Brokerage Contract — Sale of a Chiefly Residential Immovable”, “Non-Exclusive Brokerage Contract — Sale of a Chiefly Residential Immovable” or “Promise to Purchase”.

The certificate holder shall not use the form entitled “Annex G — General” to make an amendment to a mandatory form entitled “Exclusive Brokerage Contract — Sale of a Chiefly Residential Immovable”, “Non-Exclusive Brokerage Contract — Sale of a Chiefly Residential Immovable” or “Promise to Purchase” that the parties have already signed.

O.C. 1865-93, s. 100.

CHAPTER VIII CONDITIONS, OBLIGATIONS AND PROHIBITIONS REGARDING ADVERTISING, THE SOLICITING OF CLIENTS AND REPRESENTATIONS BY A MEMBER

101. Only a member whose certificate issued by the Association is not under suspension may advertise, solicit clients or make representations relating to the carrying on of the activity of real estate broker referred to in section 1 of the Act.

He may do jointly with another person or partnership what is provided for in the first paragraph only where that person or partnership fulfils the conditions provided for in that paragraph, unless that person or partnership is the person or partnership that awarded him a brokerage contract.

O.C. 1865-93, s. 101.

102. A member may advertise, solicit clients or make representations relating to a brokerage transaction referred to in section 1 of the Act only if he has been expressly authorized to do so by the person or partnership that awarded him a brokerage contract.

O.C. 1865-93, s. 102.

103. In any advertising, soliciting of clients or representations relating to the carrying on of the activity of real estate broker referred to in section 1 of the Act, a member shall not

(1)  pass on any information that he knows to be false, misleading or incomplete, particularly with regard to a price, which shall be the price provided for in the brokerage contract or in the transaction proposal referred to in section 1 of the Act; or

(2)  use any formulation that may lead to confusion, particularly with regard to a name, trade mark, slogan or logo.

O.C. 1865-93, s. 103.

104. In any advertising, soliciting of clients and representations relating to the carrying on of the activity of real estate broker referred to in section 1 of the Act, a member shall indicate clearly, particularly on his business card and letterhead, the following particulars:

(1)  if he holds a chartered real estate broker’s certificate:

(a)  the name or names indicated on his certificate;

(b)  the category of the real estate broker’s certificate that he holds, except in the case of an advertisement in a periodical, in which case he need mention only the fact that he is acting as a real estate broker; and

(c)  the telephone number of his principal establishment in Québec or of any of his places of business, except in the case of an advertisement in a periodical or on a sign;

(2)  if he holds a certificate for a real estate broker restricted to loans secured by immovable hypothec:

(a)  the name or names indicated on his certificate;

(b)  the category of the real estate broker’s certificate that he holds, except in the case of an advertisement in a periodical, in which case he need mention only the fact that he is acting as a real estate broker restricted to loans secured by immovable hypothec; and

(c)  the telephone number of his principal establishment in Québec or of another establishment, except in the case of advertising in a periodical or on a sign;

(3)  if he holds an affiliated real estate broker’s certificate or a chartered or affiliated real estate agent’s certificate:

(a)  the name indicated on his certificate;

(b)  the category of the real estate broker’s or agent’s certificate that he holds, except in the case of an advertisement in a periodical;

(c)  the name of the natural person, partnership or legal person holding a chartered real estate broker’s certificate or a certificate for a multidisciplinary firm that employs him or on whose behalf he is authorized to act;

(d)  whether the person or partnership referred to in subparagraph c holds a chartered real estate broker’s certificate or a certificate for a multidisciplinary firm; and

(e)  the telephone number of the place of business to which he is assigned, except in the case of an advertisement in a periodical or on a sign; and

(4)  if he holds a certificate for a real estate agent restricted to loans secured by immovable hypothec:

(a)  the name indicated on his certificate;

(b)  the category of the real estate agent’s certificate that he holds;

(c)  the name of the holder of a certificate for a real estate broker restricted to loans secured by immovable hypothec or of the multidisciplinary firm that employs him or on whose behalf he is authorized to act; and

(d)  the telephone number of the establishment in Québec at which he works.

O.C. 1865-93, s. 104.

105. In addition to the particulars required under section 104, a member shall indicate the following particulars on his business card and letterhead:

(1)  if he holds a chartered real estate broker’s certificate, the address of his principal establishment in Québec or of any of his places of business and, if he is a franchisee:

(a)  the name of the franchiser; and

(b)  the fact that he is a franchisee but is independent and autonomous from the franchiser referred to in subparagraph a; and

(2)  if he holds an affiliated real estate broker’s certificate or a chartered or affiliated real estate agent’s certificate, the address of the place of business to which he is assigned.

O.C. 1865-93, s. 105.

106. In addition to the particulars required under sections 104 and 105, a member may, in order to identify himself in any advertising, soliciting of clients or representations relating to the carrying on of the activity of real estate broker referred to in section 1 of the Act, particularly on his business card and letterhead, include any particulars that are verifiable and quantifiable.

O.C. 1865-93, s. 106.

107. A member shall not solicit a brokerage contract from a person who has awarded an exclusive brokerage contract having the same object to another chartered real estate broker or to a multidisciplinary firm holding a certificate provided for in any of paragraphs 5 to 10 of section 1 of the Regulation respecting multidisciplinary firms.

Notwithstanding the first paragraph, a member holding a real estate broker’s or agent’s certificate may, whether in person, by telephone, by mail or otherwise, generally solicit a group of persons or partnerships as long as that solicitation is not directly or specifically aimed at persons or partnerships who have in common the fact that they are already bound by an exclusive brokerage contract awarded to another chartered real estate broker or to a multidisciplinary firm holding a certificate provided for in any of paragraphs 5 to 10 of section 1 of the Regulation respecting multidisciplinary firms. Groups that may be solicited include any persons or partnerships that own property in a certain geographical area or that belong to the same profession, club or organization.

O.C. 1865-93, s. 107.

CHAPTER IX RULES RELATING TO THE OPENING AND MAINTENANCE OF A TRUST ACCOUNT

108. Only the holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate may, under this By-law, open a trust account for the purposes of section 11 of the Act.

O.C. 1865-93, s. 108.

109. A certificate holder referred to in section 108 shall open a single general trust account and as many special trust accounts as necessary, in which he shall deposit sums received on behalf of others in the course of his activities. He shall open those accounts in Québec with a financial institution whose deposits are guaranteed under the Deposit Insurance Act (chapter A-26) or insured under the Canada Deposit Insurance Corporation Act (R.S.C., 1985, c. C-3).

O.C. 1865-93, s. 109.

110. So that every depositor may benefit from deposit insurance, a certificate holder referred to in section 108 shall ensure that every deposit made with a financial institution constitutes a separate deposit within the meaning of the Deposit Insurance Act or the Canada Deposit Insurance Corporation Act.

O.C. 1865-93, s. 110.

111. Where a certificate holder referred to in section 108 opens a general trust account, he shall, without delay, send to the depositary financial institution and to the Association a copy of a declaration in the form in Schedule 6.

O.C. 1865-93, s. 111.

112. A certificate holder referred to in section 108 shall deposit into his general trust account any sum on which the client has not claimed the interest. He shall make that deposit in accordance with the terms and conditions of the agreement designating the certificate holder as the trustee of that sum.

The interest generated by such sums shall be paid into the financing fund established under the second paragraph of section 74 of the Act.

O.C. 1865-93, s. 112.

113. Where a certificate holder referred to in section 108 opens a special trust account, he shall, without delay, send to the depositary financial institution and to the Association a copy of a declaration in the form in Schedule 7, and shall keep a copy for professional inspection purposes.

O.C. 1865-93, s. 113.

114. A certificate holder referred to in section 108 shall deposit into a special trust account any sum on which the client has claimed the interest and shall have the name of the client on whose behalf the account was opened indicated therein. He shall make that deposit in accordance with the terms and conditions of the agreement designating the certificate holder as the trustee of that sum.

O.C. 1865-93, s. 114.

115. Where a certificate holder referred to in section 108 receives a sum in cash, he shall supply the depositor with an acknowledgment of receipt in the form in Schedule 8.

O.C. 1865-93, s. 115.

116. As soon as a certificate holder referred to in section 108 deposits a sum into a general or special trust account, he shall issue the depositor a receipt, in the form in Schedule 9, bearing one of a series of consecutive numbers attributed by the real estate broker to his receipts. The certificate holder shall keep a duplicate of that receipt on file.

O.C. 1865-93, s. 116.

117. Where a cheque or other bill of exchange received as a deposit is returned by the financial institution on which it was drawn, a certificate holder referred to in section 108 shall, without delay, notify in writing the parties to a transaction referred to in section 1 of the Act.

O.C. 1865-93, s. 117.

118. Any withdrawal from a general or special trust account shall be made by cheque or other bill of exchange or by transfer slip bearing the number attributed to that specific transaction. A certificate holder referred to in section 108 shall, for professional inspection purposes, keep on file a duplicate of such cheques, bills of exchange and transfer slips, as well as the original cheques and bills of exchange cashed.

O.C. 1865-93, s. 118.

119. Cheques, bills of exchange and transfer slips drawn by a certificate holder referred to in section 108 on a general trust account or special trust account shall bear

(1)  one of a series of consecutive numbers attributed by the certificate holder to his cheques, bills of exchange and transfer slips; and

(2)  the statement “Trust account governed by the Real Estate Brokerage Act”.

O.C. 1865-93, s. 119.

120. Where a certificate holder referred to in section 108 closes a general trust account, he shall, without delay, send the Association a notice in the form in Schedule 10.

O.C. 1865-93, s. 120.

121. Within one month following the end of each month, a certificate holder referred to in section 108 shall reconcile his accounting register, showing the sums held in trust, with his receipts, cheques, bills of exchange and transfer slips, and with the statements from the depositary financial institution.

O.C. 1865-93, s. 121.

122. Within one month following the end of each quarter in the calendar year, a certificate holder referred to in section 108 shall send the Association

(1)  a summary of deposits and withdrawals from his general trust account and special trust accounts, in the form in Schedule 11;

(2)  a copy of the bank reconciliation statement, in the form in Schedule 12, established at the end of the quarter for his general trust account and each special trust account; and

(3)  a detailed list, in the form in Schedule 13, of the sums held at the end of the quarter in his general trust account and special trust accounts.

The amounts appearing next to “Total balances of accounting registers at end of quarter” in Schedule 11, “Total account balances after reconciliation” in Schedule 12 and “Total sums held” in Schedule 13 shall be identical.

O.C. 1865-93, s. 122.

123. A certificate holder referred to in section 108 shall ensure that a written record is made of the conditions under which a sum received as a deposit on the sale price and deposited into a trust account must be returned to the depositor where there is no sale.

O.C. 1865-93, s. 123.

124. Where a certificate holder referred to in section 108 holds a sum in trust and 2 years have elapsed since the date scheduled for the conclusion of a transaction, he shall, if the depositor does not request a reimbursement or cannot be located, pay that sum plus any accrued interest to the public curator within 60 days and shall notify the Association.

O.C. 1865-93, s. 124.

125. The sums deposited into a general or special trust account of a certificate holder referred to in section 108 do not belong to him and he shall not deposit or leave his own funds therein.

O.C. 1865-93, s. 125.

126. A certificate holder referred to in section 108 who does not foresee receiving any sums on behalf of others in the course of his activities shall send to the Association, when his certificate is issued or when closing his general trust account, a statement in the form in Schedule 14.

O.C. 1865-93, s. 126.

CHAPTER X RULES RELATING TO THE DISCLOSURE OF THE SHARING OF A BROKER’S COMPENSATION WITH A MARKET INTERMEDIARY

127. For the purposes of the disclosure provided for in section 27 of the Act, the holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate shall, where he shares his commission with a market intermediary, send to his client without delay, by any means providing proof of the date of receipt, a written notice indicating in legible characters:

(1)  the name of the natural person, partnership or legal person holding the real estate broker’s certificate;

(2)  the number of the real estate broker’s certificate held;

(3)  the name of the natural person, partnership or legal person that is the market intermediary with which he shares his compensation, as well as his or its address;

(4)  the number of the certificate held by that market intermediary;

(5)  the terms for the sharing of the real estate broker’s compensation;

(6)  a clause to the effect that he attests to the accuracy of the information disclosed in the written notice;

(7)  his signature or, in the case of a partnership or a legal person, that of the natural person designated to represent it for the purposes of the Act or of any member that it employs or authorizes to act on its behalf and designates specifically for that purpose; and

(8)  the date on which the notice was signed.

O.C. 1865-93, s. 127.

128. A certificate holder referred to in section 127 shall keep on file a copy of the written notice provided for in that section.

O.C. 1865-93, s. 128.

129. Any sharing of compensation with a market intermediary shall, once it is carried out, be recorded without delay in the register kept for that purpose in accordance with section 138.

O.C. 1865-93, s. 129.

CHAPTER XI RECORDS, BOOKS AND REGISTERS

DIVISION I NATURE OF THE RECORDS, BOOKS AND REGISTERS TO BE KEPT BY A REAL ESTATE BROKER

130. The holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate shall keep the following records, books and registers up to date:

(1)  a record for each brokerage contract;

(2)  a register of his brokerage contracts;

(3)  a record for each transaction proposal not accepted, where the real estate broker is not the real estate broker to whom the brokerage contract was awarded;

(4)  a separate register for each transaction referred to in section 1 of the Act;

(5)  a record for each transaction referred to in section 1 of the Act;

(6)  a register of his transactions referred to in section 1 of the Act;

(7)  accounting registers showing the sums held in trust;

(8)  a register of sharing of compensation with another market intermediary; and

(9)  accounting registers pertaining to the real estate broker’s enterprise.

The registers provided for in subparagraphs 2 and 6 to 9 of the first paragraph may be kept on photographic, computer or electronic media.

The certificate holder shall keep those records, books and registers in each of his places of business, but may keep the registers provided for in subparagraphs 7 to 9 of the first paragraph at his principal establishment in Québec.

O.C. 1865-93, s. 130.

DIVISION II FORM AND CONTENT OF THE RECORDS, BOOKS AND REGISTERS TO BE KEPT BY A REAL ESTATE BROKER

131. The record for each brokerage contract shall contain the following documents:

(1)  the original brokerage contract;

(2)  a copy of any document containing information used to describe the immovable, stock-in-trade or loan secured by immovable hypothec covered by the brokerage contract;

(3)  a copy of any document that a certificate holder referred to in section 130 has in his possession to attest to the accuracy of the information that he provides concerning the object of the brokerage contract;

(4)  a copy of any agreement concerning a possible sharing of compensation;

(5)  the original of any transaction proposal not accepted; and

(6)  any other document relating to the transaction to which the contract pertains, including any correspondence.

O.C. 1865-93, s. 131.

132. The register of brokerage contracts shall contain the following information on each brokerage contract. That information shall be recorded in ascending order of the numbers attributed by a certificate holder referred to in section 130 to each brokerage contract, or in alphanumerical order of the addresses or cadastral descriptions:

(1)  the address, including the postal code, of the immovable or stock-in-trade covered by the brokerage contract, or its cadastral description if there is no address;

(2)  the date on which the brokerage contract was awarded to the certificate holder;

(3)  the date of expiry of the brokerage contract;

(4)  the number attributed to the brokerage contract from a series of consecutive numbers used only by the place of business; and

(5)  the name, address, postal code and telephone number of the person or partnership that awarded the brokerage contract to the certificate holder.

O.C. 1865-93, s. 132.

133. Where a certificate holder referred to in section 130 is not the certificate holder to whom the brokerage contract was awarded, the record for each transaction proposal not accepted shall contain the following documents:

(1)  the original of the transaction proposal not accepted or, where the certificate holder does not have the original in his possession, a copy thereof; and

(2)  a copy of any document containing information used to describe the immovable, stock-in-trade or loan secured by immovable hypothec to which the transaction proposal pertains.

O.C. 1865-93, s. 133.

134. The separate register for each transaction referred to in section 1 of the Act shall contain the following information:

(1)  the number attributed to the transaction by a certificate holder referred to in section 130, from a series of consecutive numbers used only by the place of business;

(2)  the date of acceptance of the transaction proposal;

(3)  the date schedule for completion of the transaction;

(4)  the address, including the postal code, of the immovable or stock-in-trade to which the transaction pertains, or its cadastral description if there is no address;

(5)  the nature of the transaction;

(6)  the number attributed to the brokerage contract by the certificate holder, from a series of consecutive numbers used only by the place of business;

(7)  the name, address, postal code and telephone number of the natural person or partnership that, through the transaction, is alienating a right;

(8)  the name, address, postal code and telephone number of the natural person or partnership that, through the transaction, is acquiring a right;

(9)  the total value of the consideration agreed to by the parties;

(10)  the address of the certificate holder’s place of business;

(11)  the amount or market value, excluding applicable taxes, of the compensation that the certificate holder is to receive;

(12)  the name, address, postal code and telephone number of the person or partnership that is to pay the certificate holder’s compensation, either by referring to any of the persons or partnerships referred to in paragraph 7 or 8, or by indicating the name of that person or partnership;

(13)  the amount or market value, excluding applicable taxes, of the portion of the compensation that the certificate holder shares with the holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate, with a person or partnership entitled to carry on the activity of real estate broker in a jurisdiction outside Québec, or with a market intermediary;

(14)  the name of the person or partnership holding a real estate broker’s certificate other than an affiliated real estate broker’s certificate, of the person or partnership entitled to carry on the activity of real estate broker in a jurisdiction outside Québec, or of the market intermediary with which the certificate holder is sharing his compensation, as well as the numbers of their respective certificates;

(15)  the date of receipt of any sum received in trust, where different from the date of the promise;

(16)  the sum received in trust;

(17)  a clause stating that the sum is a sum received in trust;

(18)  a clause stating whether any sum received in trust shall bear interest for the benefit of the depositor;

(19)  the name of the jurist asked to conclude the transaction, including the name of his firm;

(20)  the date of entry in the register; and

(21)  the signature of the certificate holder or of the natural person designated to represent him for the purposes of the Act or to manage the place of business.

O.C. 1865-93, s. 134.

135. The record for each transaction referred to in section 1 of the Act shall contain the following documents:

(1)  the content of the record, provided for in section 131, for the brokerage contract pertaining to the transaction or, where a certificate holder referred to in section 130 is not the certificate holder to whom the brokerage contract was awarded, a copy of any document in his possession and provided for in section 131;

(2)  the separate register for the transaction;

(3)  the original of the accepted transaction proposal or, where the certificate holder does not have that original in his possession, a copy thereof;

(4)  a copy of the receipt issued to the depositor for any sum received in trust;

(5)  a copy of the cheque, bill of exchange or transfer slip used to make a withdrawal from the trust account, except where such copy is kept at the certificate holder’s principal establishment;

(6)  a copy of the notice provided for in section 127 and relating to the sharing of the certificate holder’s compensation with a market intermediary; and

(7)  any other document related to the transaction, including any correspondence.

O.C. 1865-93, s. 135.

136. The register of the transactions referred to in section 1 of the Act shall contain the following information on each transaction. The information shall be recorded in ascending order of the numbers attributed to the transactions:

(1)  the number attributed to the transaction by a certificate holder referred to in section 130, from a series of consecutive numbers used only by the place of business;

(2)  the date of acceptance of the transaction proposal;

(3)  the date scheduled for completion of the transaction;

(4)  the address, including the postal code, of the immovable or stock-in-trade to which the transaction pertains, or its cadastral description if there is no address;

(5)  the nature of the transaction;

(6)  the number attributed to the brokerage contract by the certificate holder, from a series of consecutive numbers used only by the place of business;

(7)  the name, address, postal code and telephone number of the person or partnership that, through the transaction, is alienating a right;

(8)  the name, address, postal code and telephone number of the person or partnership that, through the transaction, is acquiring a right;

(9)  the total value of the consideration agreed to by the parties;

(10)  the address of the certificate holder’s place of business;

(11)  the amount or market value, excluding applicable taxes, of the compensation that the certificate holder is to receive;

(12)  the name, address, postal code and telephone number of the person or partnership that is to pay the certificate holder’s compensation, either by referring to any of the persons or partnerships referred to in paragraph 7 or 8, or by indicating the name of that person or partnership;

(13)  a clause stating whether the compensation is to be shared with the holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate, with a person or partnership entitled to carry on the activity of real estate broker in a jurisdiction outside Québec, or with a market intermediary;

(14)  the sum received in trust;

(15)  a clause stating that the sum is a sum received in trust; and

(16)  the date of entry in the register.

The register of transactions may also consist of a compilation of the copies of each of the separate transaction registers provided for in section 134, classified in ascending order of the numbers attributed by the certificate holder to the transactions.

O.C. 1865-93, s. 136.

137. The accounting registers showing the sums held in trust by the certificate holder referred to in section 130 shall be integrated into an accounting system kept according to generally accepted accounting principles and shall contain the following information, recorded in chronological order:

(1)  in the case of a sum received in trust and deposited into the general trust account:

(a)  the number attributed to the transaction by the certificate holder;

(b)  the sum received;

(c)  the date of receipt of the sum, where different from the date of acceptance of the transaction proposal;

(d)  the number of the receipt issued to the depositor for the sum received;

(e)  the date of entry in the register; and

(f)  the date of deposit with the financial institution;

(2)  in the case of a sum received in trust and withdrawn from the general trust account:

(a)  the number attributed to the transaction by the certificate holder;

(b)  the sum withdrawn;

(c)  the number attributed to the cheque, bill of exchange or transfer slip used for the withdrawal;

(d)  the name of the beneficiary of the cheque, bill of exchange or transfer slip used for the withdrawal;

(e)  the date appearing on the cheque, bill of exchange or transfer slip used for the withdrawal; and

(f)  the date of entry in the register;

(3)  in the case of a sum received in trust and deposited into a special trust account:

(a)  the information provided for in paragraph 1;

(b)  identification of the special account; and

(c)  the name of the financial institution with which the account was opened;

(4)  in the case of a sum received in trust and withdrawn from a special trust account:

(a)  the information provided for in paragraph 2;

(b)  identification of the special account; and

(c)  the name of the financial institution with which the account was opened.

O.C. 1865-93, s. 137.

138. The register of compensation shared by a certificate holder referred to in section 130 with a market intermediary shall contain the following information on each transaction referred to in section 1 of the Act:

(1)  the number assigned by the certificate holder to the transaction;

(2)  the date of acceptance of the transaction proposal;

(3)  the date scheduled for the conclusion of the transaction;

(4)  the address, including the postal code, of the immovable or stock-in-trade to which the transaction pertains, or its cadastral description if there is no address;

(5)  the address of the certificate holder’s place of business;

(6)  the terms for the sharing of the certificate holder’s compensation with the market intermediary;

(7)  the name of the person or partnership that is the market intermediary, as well as the number of his or its certificate; and

(8)  the date of entry in the register.

O.C. 1865-93, s. 138.

139. The accounting registers pertaining to the certificate holder’s enterprise shall be integrated into an accounting system kept according to generally accepted accounting principles.

O.C. 1865-93, s. 139.

DIVISION III CONSERVATION, USE AND DESTRUCTION OF RECORDS, BOOKS AND REGISTERS

140. A certificate holder referred to in section 130 shall take the measures necessary to prevent the loss or destruction of the records, books and registers provided for in Division I and to prevent any falsification of the information and documents contained therein.

O.C. 1865-93, s. 140.

141. A certificate holder referred to in section 130 shall conserve the records, books and registers provided for in Division I for at least 5 years following their final closing. After that 5-year period, those records, books and registers may be destroyed unless they constitute evidence in a civil, disciplinary, penal or criminal action.

O.C. 1865-93, s. 141.

142. Any destruction of records, books and registers shall be done by taking the measures necessary to protect the confidential nature of the information contained therein.

O.C. 1865-93, s. 142.

143. A certificate holder referred to in section 130 who ceases to act as a real estate broker shall, without delay, turn over his records, books and registers, other than those relating to the accounting for his enterprise, to any of the following persons or partnerships:

(1)  if he holds a chartered real estate broker’s certificate, to another holder of such a certificate, to a multidisciplinary firm holding a certificate provided for in any of paragraphs 5 to 10 of section 1 of the Regulation respecting multidisciplinary firms or to the Association; or

(2)  if he holds a certificate for a real estate broker restricted to loans secured by immovable hypothec, to another holder of such a certificate, to the holder of a chartered real estate broker’s certificate, to a multidisciplinary firm holding a certificate provided for in any of paragraphs 5 to 16 of section 1 of the Regulation respecting multidisciplinary firms or to the Association.

The person or partnership that receives those records, books and registers is under the same obligations regarding the conservation, use and destruction there of as that person or partnership is under regarding his or its own records, books and registers.

O.C. 1865-93, s. 143.

144. The holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate who receives the records, books and registers of another certificate holder in accordance with section 143 shall notify the Association in writing within 30 days following the date of their receipt.

O.C. 1865-93, s. 144.

CHAPTER XII A REAL ESTATE AGENT’S OBLIGATION TO REPORT AND TO PASS ON THE INFORMATION NECESSARY FOR MAINTAINING RECORDS, BOOKS AND REGISTERS

145. The holder of an affiliated real estate broker’s certificate or of a chartered or affiliated real estate agent’s certificate shall report to the place of business to which he is assigned, so that the natural person who manages that place of business will be aware of his availability and the state of advancement of his work.

O.C. 1865-93, s. 145.

146. The holder of an affiliated real estate broker’s certificate or of a chartered or affiliated real estate agent’s certificate shall report in person to the place of business to which he is assigned, at the request of the holder of a chartered real estate broker’s certificate or of a certificate for a multidisciplinary firm that employs him or on whose behalf he is authorized to act, at the request of the natural person designated to represent that certificate holder for the purposes of the Act or at the request of the natural person designated to manage that place of business.

O.C. 1865-93, s. 146.

147. The holder of an affiliated real estate broker’s certificate or of a chartered or affiliated real estate agent’s certificate shall, without delay, send to the person who manages the place of business to which he is assigned the information and documents that the holder of a chartered real estate broker’s certificate or of a certificate for a multidisciplinary firm that employs him or on whose behalf he is authorized to act requires in order to maintain the records, books and registers provided for in Chapter XI.

O.C. 1865-93, s. 147.

CHAPTER XIII FINANCING FUND OF THE ASSOCIATION DES COURTIERS ET AGENTS IMMOBILIERS DU QUÉBEC FOR PUBLIC INFORMATION

DIVISION I ESTABLISHMENT OF THE FUND

148. A fund entitled “Financing fund of the Association des courtiers et agents immobiliers du Québec for public information” is hereby established and shall consist of the interest generated by the sums of money held in trust by real estate brokers and by multidisciplinary firms holding a certificate provided for in any of paragraphs 5 to 16 of section 1 of the Regulation respecting multidisciplinary firms. The financing fund shall be used primarily for the production and release of information relating to the rights of the public in the field of real estate brokerage and, subsidiarily, for professional inspection of the members of the Association and, if funds are sufficient, for discipline of those members.

O.C. 1865-93, s. 148.

DIVISION II RULES RELATING TO THE ADMINISTRATION OF THE FINANCING FUND

149. The business of the financing fund shall be administered by the board of directors of the Association.

O.C. 1865-93, s. 149.

150. The accounting done for the financing fund shall be integrated into the accounting of the Association but shall constitute a separate part thereof.

O.C. 1865-93, s. 150.

151. The sums of money constituting the financing fund shall be invested by the board of directors of the Association in the following manner:

(1)  the portion of the sums that the board of directors of the Association plans to use in the short term shall be deposited into a separate account with a financial institution whose deposits are guaranteed under the Deposit Insurance Act or insured under the Canada Deposit Insurance Corporation Act. That financial institution shall be chosen by the Association;

(2)  the other portion shall be invested in accordance with paragraphs 2 to 10 of article 1339 of the Civil Code of Québec.

O.C. 1865-93, s. 151.

152. The board of directors of the Association shall conclude, with the financial institutions with which the general trust accounts opened by the holders of a real estate broker’s certificate other than an affiliated real estate broker’s certificate are kept, agreements pertaining to the interest payable on those accounts and to the transfer of that interest to the fund, as well as any other agreement useful for the purposes of this By-law.

O.C. 1865-93, s. 152.

DIVISION III TERMS AND CONDITIONS FOR THE PAYMENT TO THE FINANCING FUND OF INTEREST GENERATED BY SUMS HELD IN TRUST

153. The holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate shall, in the declaration that he must send to a financial institution and to the Association upon opening a general trust account in accordance with section 111, ensure that, in accordance with section 11 of the Act, the interest generated by the sums deposited into that account are paid to the financing fund and shall authorize that financial institution to transfer that interest directly to the fund, less any administration fees.

O.C. 1865-93, s. 153.

CHAPTER XIV CATEGORIES OF MEMBERS AND RELATED CONDITIONS

DIVISION I CATEGORIES OF MEMBERS

154. The holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate is a “member broker” of the Association.

O.C. 1865-93, s. 154.

155. The holder of an affiliated real estate broker’s certificate or of a real estate agent’s certificate is a “member agent” of the Association.

O.C. 1865-93, s. 155.

156. A natural person who, for the purposes of the Act, represents a partnership or a legal person holding a chartered real estate broker’s certificate or a certificate for a multidisciplinary firm provided for in any of paragraphs 5 to 16 of section 1 of the Regulation respecting multidisciplinary firms is a “member representative” of the Association.

O.C. 1865-93, s. 156.

157. Any natural person who manages a place of business or who acts as an assistant to such a person is a “member manager” of the Association.

O.C. 1865-93, s. 157.

DIVISION II RIGHTS AND RESTRICTIONS PERTAINING TO THE VARIOUS CATEGORIES OF MEMBERS

158. Each member is entitled to vote. However, a natural person who belongs to more than one category of members is entitled to only one vote.

Notwithstanding the foregoing, a member whose certificate is suspended is not entitled to vote until his certificate is reinstated.

O.C. 1865-93, s. 158.

CHAPTER XV BOUNDARIES OF THE REGIONS PROVIDED FOR IN SECTION 86 OF THE ACT

159. The Montreal region consists of administrative regions 06, 13 and 16.

O.C. 1865-93, s. 159.

160. The Québec City region consists of administrative regions 03 and 12.

O.C. 1865-93, s. 160.

161. The other regions of Québec are as follows:

(1)  the Eastern region, consisting of administrative regions 01, 02, 09, 10 and 11;

(2)  the Central region, consisting of administrative regions 04, 05 and 14; and

(3)  the Western region, consisting of administrative regions 07, 08 and 15.

O.C. 1865-93, s. 161.

162. The boundaries of the administrative regions referred to in sections 159 to 161 are described “Décret concernant la révision des limites des régions administratives du Québec” (D. 2000-87 [D-11, r. 2]).

O.C. 1865-93, s. 162.

CHAPTER XVI METHOD OF COMMUNICATING WITH MEMBERS OF THE BOARD OF DIRECTORS NOT PRESENT AT A MEETING OF THE BOARD OF DIRECTORS

163. A written resolution signed by each member of the board of directors is valid and has the same effect as if it had been adopted at a meeting of the board of directors duly convened and held. Such a resolution shall be inserted into the minutes book and, where applicable, into the resolutions book of the board of directors of the Association, according to its date, in the same way as regular minutes.

O.C. 1865-93, s. 163.

164. The members of the board of directors may, if they are all in agreement, participate in a meeting of the board of directors in a manner that allows all the participants to communicate verbally with each other, such as by telephone or videoconference. The members are then deemed to have attended the meeting.

O.C. 1865-93, s. 164.

CHAPTER XVII FINAL PROVISION

165. (Omitted).

O.C. 1865-93, s. 165.

SCHEDULE 1

(s. 87)

PROMISE TO PURCHASE

LOGO  PROMISE TO PURCHASE

     This form does not constitute the preliminary contract required under
     articles 1785 and following of the Civil Code where an existing
     or planned residential IMMOVABLE is sold by the builder or a promoter to
     a natural person who acquires it to occupy it, whether or not the sale
     includes the transfer to him of the seller’s rights over the land.

1.   IDENTIFICATION OF THE PARTIES


     Name of buyer 1 _________________________________________________________

     Address of buyer 1 ________________________(postal code) (telephone no.)

     Name of buyer 2 _________________________________________________________

     Address of buyer 2 ________________________(postal code) (telephone no.)
     (hereinafter called the BUYER)


     Name of seller 1 ________________________________________________________

     Address of seller 1 ________________________(postal code) (telephone no.)

     Name of seller 2_________________________________________________________

     Address of seller 2 ________________________(postal code) (telephone no.)
     (hereinafter called the SELLER)

2.   OBJECT OF THE CONTRACT

2.1  The BUYER hereby promises to purchase, through _________________________,
     real estate broker, represented by __________(certificate number of real 
     estate agent or affiliated real estate broker), the immovable described
     hereinafter, at the price and under the conditions stated below.

3.   SUMMARY DESCRIPTION OF THE IMMOVABLE

3.1  ADDRESS:________________________ (number, street, city)__________________

3.2  THE IMMOVABLE, with construction erected thereon, is designated as
     follows:

     Cadastral designation: _______ (lot number, subdivision) ________________
     (name of official cadastre)

     Measuring:_________________, for an area of _____________________________

     The IMMOVABLE is held in             □ divided co-ownership
                                          □ undivided co-ownership for
                                          a share equal to _______%.

     The IMMOVABLE held in co-ownership includes ____ parking space(s) 
     (nos ____________) and ________storage space(s) (nos ____________).
     (hereinafter called the IMMOVABLE)

4.   PRICE AND DEPOSIT

4.1  PRICE The purchase price shall be ____________________ dollars (______$),
     which the BUYER agrees to pay in full upon the signing of the act of
     sale, unless another method of payment is provided for hereinafter.  Any
     goods and services tax, Québec sales tax or other tax that may be 
     imposed as a result of the sale and that is to be collected by the
     SELLER under the applicable taxation laws shall, upon the signing of the
     act of sale, be remitted by the BUYER to the SELLER for those purposes.

4.2  DEPOSIT With this PROMISE TO PURCHASE, the BUYER remits to the 
     intermediary referred to above, as an instalment on the sale price to be
     paid, the sum of _________________________________ dollars (_________ $)
     by cheque payable to the order of “ ________________(name of listing 
     broker) in trust” (hereinafter called the TRUSTEE). Following the 
     acceptance of this PROMISE TO PURCHASE, the cheque may be certified and
     shall be given to the TRUSTEE, who shall deposit it into a trust account
     until the signing of the act of sale, whereupon that sum shall be applied
     against the purchase price.  As soon as he has deposited that sum into a
     trust account, the TRUSTEE shall give the depositor a receipt. Should
     this PROMISE TO PURCHASE become null and void, the TRUSTEE shall 
     immediately refund the deposit to the BUYER without interest.  Otherwise,
     the TRUSTEE may use that deposit only in accordance with this PROMISE TO
     PURCHASE.

5.   DECLARATIONS AND OBLIGATIONS OF THE BUYER

5.1  DECLARATIONS Unless stipulated otherwise hereinafter, the BUYER has 
     examined the IMMOVABLE and declares that he is satisfied therewith.

5.2  Unless stipulated otherwise hereinafter, the BUYER has also examined,
     where applicable, the declaration of co-ownership, including the by-laws
     of the IMMOVABLE, and declares that he is satisfied therewith.

5.3  TAXES The BUYER undertakes, after the signing of that act of sale, to pay
     any applicable transfer duties.

5.4  COSTS The BUYER undertakes to assume the costs of the act of sale, of its
     publication and of the copies required.

5.5  NON-ASSIGNABILITY The BUYER undertakes not to sell, assign or otherwise
     alienate his rights in this PROMISE TO PURCHASE without obtaining the 
     prior written consent of the SELLER.

6.   DECLARATIONS AND OBLIGATIONS OF THE SELLER

6.1  DECLARATIONS The SELLER declares, unless stipulated otherwise
     hereinafter, that:

     (a) he is not aware of any factor relating to the IMMOVABLE and liable to
         significantly reduce the value thereof, reduce the income generated
         thereby or increase the expenses relating thereto, except; __________
         _____________________________________________________________________

     (b) he has not received any notice from a competent authority indicating 
         that the IMMOVABLE does not conform to the laws and regulations in 
         force, or any notice from an insurer, following which he has not fully
         remedied the defect declared in either notice, except; ______________
         _____________________________________________________________________ 

     (c) he is not a non-resident of Canada within the meaning of the 
         provincial and federal taxation laws; _______________________________

     (d) the municipality concerned provides water and sewer services to the 
         IMMOVABLE; __________________________________________________________

     (e) the IMMOVABLE is not part of a housing complex within the meaning of 
         the Act respecting the Régie du logement (chapter R-8.1);       
        ______________________________________________________________________

     (f) the IMMOVABLE is not subject to the Act respecting preservation agricultural land and agricultural activities (chapter P-41.1);
         _____________________________________________________________________

     (g) the IMMOVABLE is not classified or recognized cultural property and is
         not situated in a historic or natural district, on a classified 
         historic site or in a protected area provided for in the Cultural
         Property Act (chapter B-4); ______________________________________

     (h) the IMMOVABLE conforms to the laws and regulations relating to 
         protection of the environment; ______________________________________

     (i) in the case of an IMMOVABLE under lease, the SELLER makes the following
         declarations:          
    
     i. the rents bring in at least __________________________________ dollars
	 
     ($________) per year and the leases expire on; _________________________;

     ii. no notice liable to amend the leases has been sent by any of the 
     parties and no proceedings are pending before the Régie du logement;

     iii. he has not received any notice from a lessee or from the spouse of a 
     lessee to the effect that the IMMOVABLE or part thereof is used as a
     family residence _______________________________________________________;

     (j) other declarations _________________________________________________.

6.2  DELIVERY OF THE IMMOVABLE The SELLER promises to sell the IMMOVABLE to 
     the BUYER and, unless stipulated otherwise hereinafter, undertakes to 
     deliver the IMMOVABLE in the condition that it was in when the BUYER
     examined it_______________________________________________________________
     _________________________________________________________________________.

6.3  COSTS RELATING TO REPAYMENT AND CANCELLATION The costs relating to the 
     repayment and cancellation of any debt secured by hypothec, prior claim 
     or any other real right affecting the IMMOVABLE shall be borne by the 
     SELLER where payment of those costs will not be assumed by the BUYER.

     The costs relating to repayment include any penalty exigible for early 
     repayment.                                                

6.4  OWNERSHIP DOCUMENTS The SELLER shall supply the BUYER with a valid title 
     or ownership, free of any debt, prior claim, hypothec, real right, charge 
     or other restriction of private law, other than the usual and apparent  
     servitudes of public utility, any debts affecting the IMMOVABLE of which 
     the repayment, where applicable, is assumed by the BUYER under the term
     of this PROMISE TO PURCHASE and under the following terms:_______________

     The SELLER shall be warrantor towards the BUYER for any violation of the
     restrictions of public law that affect the property and that are
     exceptions to the ordinary law of ownership, except _____________________

     The SELLER shall supply to the BUYER, within a period of days, an 
     authentic copy of his title of acquisition, an authentic copy of the
     acts of property transfer and of the acts constituting a servitude 
     covering a period of ______ years, as well as a certificate of location 
     drawn up by a land surveyor and describing the current state of the 
     property; the cost of any new certificate of location shall be borne by 
     the BUYER where  the previous certificate proves not to have been amended. 
     In the case of an IMMOVABLE covered by a declaration of co-ownership, the
     SELLER shall also supply the BUYER with the declaration of co-ownership,
     including the by-laws of the IMMOVABLE. In the case of an IMMOVABLE covered 
     by a declaration of co-ownership, a certificate of location describing the 
     divided part sold is sufficient.

6.5  DEFECT OR IRREGULARITY Should the parties be notified, before the signing
     of the act of sale, of any defect or irregularity whatsoever affecting
     the titles, or in the case of non-conformity with any guarantee of the 
     SELLER contained herein, the SELLER shall, within 21 days following 
     receipt of a written notice to that effect, notify the BUYER, in writing, 
     that he has remedied that defect or irregularity at his expense or that
     he is unable to remedy it.

     In the latter eventuality, the BUYER may, within a period of 5 days
     following receipt of such a notice, notify the SELLER, in writing:

     (a) that he is purchasing with the alleged defects or irregularities, in
     which case the SELLER’S guarantee shall be reduced accordingly, or

     (b) that he renders this PROMISE TO PURCHASE null and void, in which case
     the fees, expenses and costs reasonably incurred until then by any of the
     parties shall be borne only by the SELLER.

     Where the BUYER has not availed himself of the provisions of paragraphs a
     or b above within the period stipulated, this PROMISE TO PURCHASE shall
     become null and void, in which case each party shall bear the fees,
     expenses and costs incurred by him until then.

6.6  INTERVENTION OF SPOUSE If part of the IMMOVABLE constitutes the SELLER’S
     family residence, or where rendered necessary by the SELLER’S matrimonial
     regime, the SELLER undertakes to remit to the BUYER, as soon as this
     PROMISE TO PURCHASE is accepted, either a document evidencing his
     spouse’s consent and, where applicable, his spouse’s concurrence and an
     undertaking by his spouse to intervene for the same purposes in the 
     notarial act of sale, or a copy of a judgment authorizing him to sell the
     IMMOVABLE without his spouse’s consent. Failing that, the BUYER may, by 
     giving written notice to that effect, render this PROMISE TO
     PURCHASE null and void.

7.   DECLARATIONS AND OBLIGATIONS COMMON TO THE PARTIES

7.1  ACT OF SALE The parties undertake to sign an act of sale before _________
     ____________, notary, on or before ___________________ , 20 _____. The
     BUYER shall be the owner upon the signing of the act of sale.

7.2  ADJUSTMENTS Upon the signing of the act of sale, all the adjustments in
     respect of general and special real estate taxes, co-ownership expenses,
     fuel reserves and income or expenses relating to the IMMOVABLE shall
     be made as of _____________________________________________, 20 ______.
     If the IMMOVABLE is held in divided co-ownership, there shall be no 
     adjustments in respect of any fund whatsoever of the co-ownership.

7.3  BROKER’S REMUNERATION The parties irrevocably instruct the acting notary 
     to withhold from the proceeds of the sale and to pay directly to ________
     _________________, real estate broker, the compensation provided for in 
     the brokerage contract awarded by the SELLER.

7.4  INCLUSIONS Included in the sale are: (a) heating, electrical and lighting 
     installations of a permanent nature; (b) other inclusions: ______________

7.5  EXCLUSIONS Excluded from the sale are: (a) curtain rods and blinds;
     (b) other exclusions: ___________________________________________________
     (c) the following appliances covered by a leasing contract: _____________

8.   OTHER DECLARATIONS AND CONDITIONS

8.1  _________________________________________________________________________
     _________________________________________________________________________
     _________________________________________________________________________
     _________________________________________________________________________

9.   ANNEXES
______________________________________________________________________________

9.1  The provisions of the Annexes designated below are an integral part of 
     this PROMISE TO PURCHASE: 

     Annex A:  AA-□ □ □ □ □     Annex B: AB-□ □ □ □ □     Annex G – General: AG-□ □ □ □ □ 
     Other: __________________________________________________________________

10.  CONDITIONS OF ACCEPTANCE

10.1 The parties declare that their consent to this PROMISE TO PURCHASE is
     not the result of any representation or condition not contained herein.
     This PROMISE TO PURCHASE is irrevocable until _____________o’clock, on
     ____________, 20 _____. If this PROMISE TO PURCHASE is accepted by that
     deadline, the BUYER shall be notified of the acceptance within a period
     of __________ hours following that deadline. If this PROMISE TO PURCHASE
     is not accepted by that deadline or if the BUYER is not notified of the 
     acceptance within the period stipulated, this PROMISE TO PURCHASE shall be
     null and void and the deposit referred to above and considered to be an 
     instalment on the sale price shall be refunded to the BUYER immediately.
     However, if this PROMISE TO PURCHASE is accepted and notification is
     received within the period stipulated, this PROMISE TO PURCHASE shall
     constitute a contract that is legally binding on the parties.

11.  MISCELLANEOUS

11.1 Nothing stipulated in this PROMISE TO PURCHASE shall be interpreted as
     restricting the real estate broker’s right to obtain, where applicable,
     payment of any sums of money that may be due to him as compensation or 
     damages according to the ordinary rules of ordinary law, particularly, 
     but without limiting the generality of the foregoing, where a sale does
     not take place because the SELLER or the BUYER voluntarily blocks the 
     sale or otherwise voluntary prevents its conclusion.

12.    INTERPRETATION

12.1 Unless the context indicates otherwise, the masculine form includes the
     feminine form and vice versa, and the singular includes the plural and 
     vice versa.

SIGNATURES

BUYER The BUYER acknowledges having read and understood this PROMISE
TO PURCHASE, including the Annexes, and having received a copy thereof.

Signed in ______________________ , on ______________ 20 _____, at ____o’clock.

________________________   ________________________   _________________________
Signature of BUYER 1       Signature of spouse        Witness
                           of BUYER 1
________________________   ________________________   ________________________   
Signature of BUYER 2       Signature of spouse        Witness
                           of BUYER 2

SELLER’S REPLY The SELLER acknowledges having read and understood this
PROMISE TO PURCHASE, including the Annexes, and having received a copy hereof.

He hereby ___________________________________________ this PROMISE TO PURCHASE.
            (enter by hand “accepts” or “refuses”)

           □ submits Counter-Proposal CP- _________

Signed in ______________________ , on ______________ 20 _____, at ____o’clock.

________________________   ________________________   
Signature of BUYER 1       Witness

________________________   ________________________   
Signature of BUYER 2       Witness

ACKNOWLEDGMENT OF RECEIPT The BUYER acknowledges having received a copy of the 
SELLER’S reply.

Signed in _____________________ , on ______________ 20 _____, at ____ o’clock.

________________________   ________________________   
Signature of BUYER 1       Witness

________________________   ________________________   
Signature of BUYER 2       Witness

INTERVENTION OF SELLER’S SPOUSE The undersigned declares that he is the spouse 
of the SELLER, that he consents to and, where applicable, concurs in the 
acceptance of this PROMISE TO PURCHASE, including the Annexes, and that he 
undertakes to intervene in the notarial act of sale for all legal purposes.

Signed in _____________________ , on ______________ 20 _____, at ____ o’clock.

________________________   ________________________   
Signature of SELLER 1      Witness

________________________   ________________________      
Signature of SELLER 2      Witness

O.C. 1865-93, Sch. 1.

SCHEDULE 2

(s. 87)

ANNEX A - IMMOVABLE
_______________________________________________________________________________

LOGO  ANNEX A
      IMMOVABLE

A1.   IDENTIFICATION OF PRINCIPAL CONTRACT

The provisions of this Annex are an integral part of PROMISE TO PURCHASE PP- 
________________ pertaining to the IMMOVABLE situated at ______________________
(address).

A2.   OCCUPANCY OF PREMISES

A2.1  PREMISES OCCUPIED BY THE SELLER The SELLER undertakes to render the 
      premises that he occupies available for occupancy by the BUYER from ____
      __________, 20 _____, and to leave them free of any property not included 
      in this PROMISE TO PURCHASE, failing which the BUYER may have it removed 
      at the SELLER’S expense.  If the SELLER vacates the premises before that 
      date, he shall nevertheless remain responsible for keeping the premises
      in the condition that they were in when the BUYER examined them.

      If the occupancy of the premises is to be subsequent to the signing of 
      the act of sale, the following text should be completed:

      Upon the signing of the act of sale, the purchase price shall be adjusted 
      by an amount equal to $_______________ per month, calculated from the 
      date of signing of the act of sale to the scheduled date of occupancy, as 
      compensation for the SELLER’S occupancy of the premises during that 
      period.  The SELLER shall continue, during that period, to assume the 
      heating, electricity and general maintenance costs relating to the 
      premises occupied.

A3.   METHOD OF PAYMENT

A3.1  DEPOSIT The deposit paid in accordance with 4.2 of this PROMISE TO 
      PURCHASE is:
      $___________

A3.2  ADDITIONAL SUM Upon the signing of the act of sale, the BUYER shall pay, 
      or shall cause to be paid, by certified cheque payable to the order of
      the acting notary in trust, an additional sum: that sum shall include any 
      amount to be obtained in the form of a new hypothecary loan, in 
      accordance with Division A4.
      $___________

A3.3  EXISTING LOAN The BUYER shall assume, in accordance with Division A5, the 
      obligations relating to the existing hypothecary loans, whose balances 
      total approximately:
      $___________

A3.4  BALANCE OF THE SALE PRICE The BUYER shall reimburse to the SELLER, in 
      accordance with Division A6, the balance of the sale price, which is:
      $___________
	  
      TOTAL PRICE
      $___________
	  
A4.   NEW HYPOTHECARY LOAN

A4.1  TERMS AND CONDITIONS The BUYER undertakes to take in good faith, as soon 
      as possible and at his expense, all steps necessary to obtain a loan of 
      $____________, secured by a _________ rank hypothec; that loan shall 
      bear interest at the current rate, which shall not exceed _________% per
      year (calculated semi-annually and not in advance) and shall be payable
      in instalments of not more than ____________(combining principal and 
      interest), calculated according to an amortization plan of ____ years,
      the balance becoming due in years.

A4.2  UNDERTAKING The BUYER undertakes to supply to the SELLER, within a period
      of _____ days following acceptance of this PROMISE TO PURCHASE, a copy of  
      the undertaking  by a hypothecary lender to grant the BUYER such a loan.  
      The receipt of such an undertaking within that period shall have the 
      effect of fully satisfying the conditions set out in A4.1 and A4.2.

A4.3  ABSENCE OF UNDERTAKING In the absence of proof of such an undertaking, 
      the SELLER may, within a period of 5 days following the expiry of the
      period provided for in A4.2 or following receipt of a notice of refusal,
      notify the BUYER, in writing:

      (a) that he is requiring the BUYER to file immediately and at his expense, 
      with a hypothecary lender designated by the SELLER, a new application for  
      a hypothecary loan conforming to the conditions set out in A4.1.  Should
      the BUYER not succeed in obtaining, within the period stipulated in the 
      SELLER’S notice, a written undertaking from that hypothecary lender to 
      grant the BUYER the loan applied for, this PROMISE TO PURCHASE shall 
      become null and void.  However, the receipt of such an undertaking within 
      that period shall have the effect of fully satisfying the conditions of 
      this division; or

      (b) that he renders this PROMISE TO PURCHASE null and void.
      
      Where the SELLER does not avail himself of the provisions of paragraph a 
      or b above within the period stipulated, this PROMISE TO PURCHASE shall 
      become null and void.

A5.   ASSUMING OF EXISTING HYPOTHECARY OBLIGATIONS

A5.1  TERMS AND CONDITIONS The BUYER undertakes to take in good faith, as soon
      as possible and at his expense, all steps necessary to obtain the 
      hypothecary creditors’ consent, where such consent is required, for the
      BUYER to assume the hypothecary obligations relating to the following 
      existing loans:

      (a) a loan having a balance of approximately $_________, secured by a ___
      rank hypothec held by ________; that loan, which bears interest at the
      rate of _______% per year (calculated semi-annually and not in advance), 
      is payable in instalments of ________ (combining principal and interest), 
      the balance becoming due on ____________ 20 _____.

      (b) a loan having a balance of approximately $________, secured by a ____
      rank hypothec held by __________; that loan, which bears interest at the 
      rate of _______ % per year (calculated semi-annually and not in advance), 
      is payable in instalments of ________ (combining principal and interest),  
      the balance becoming due on ______________ 20 _____.

A5.2  CONSENT The BUYER undertakes to supply to the SELLER, within a period of 
      __________ days following acceptance of this PROMISE TO PURCHASE, a copy 
      of the hypothecary creditors’ consent. The receipt of such consent 
      within that period shall have the effect of fully satisfying the 
      conditions set out in A5.1 and A5.2.

A5.3  ABSENCE OF CONSENT In the absence of proof of such consent, the SELLER 
      may, within a period of 5 days following the expiry of the period 
      provided for in A5.2 or following receipt of a notice of refusal:

      (a) himself request, for and on behalf of the BUYER, the hypothecary 
      creditors’ written consent for the BUYER to assume the SELLER’S 
      hypothecary obligations. Should the BUYER not succeed in obtaining such 
      written consent within a period of 5 days, this PROMISE TO PURCHASE shall 
      become null and void. However, the receipt of such consent within that 
      period shall have the effect of fully satisfying the conditions of this 
      division; or

      (b) render this PROMISE TO PURCHASE null and void by giving notice in 
      writing to that effect.

      Where the SELLER does not avail himself of the provisions of paragraph a 
      or b above within the period stipulated, this PROMISE TO PURCHASE shall
      become null and void.

A6.   BALANCE OF THE SALE PRICE

A6.1  TERMS AND CONDITIONS The BUYER shall reimburse to the SELLER the balance
      of the sale price, as referred to in A3.4, which shall be secured by a
      ________ rank hypothec subsequent to a hypothec securing a loan having a 
      balance of not more than $___________; that balance of the sale price 
      shall bear interest at the rate of _________ % per year (calculated semi-
      annually and not in advance) and shall be payable in instalments of 
      _____________ (combining principal and interest), calculated according to 
      an amortization plan of ____________years, the balance becoming due in 
      _______ years.

      The BUYER shall, at any time, have the right to reimburse in advance,
      without penalty, all or part of the balance, as long as such 
      reimbursement is by instalments of $ or any multiple thereof.

A6.2  GUARANTEE AND PRIOR CLAIM The act of sale shall contain a resolutory
      clause, the clauses usually guaranteeing payment of a balance of the sale 
      price of an immovable and a clause whereby the SELLER consents to giving 
      up priority of rank should a new hypothec be created in accordance with 
      Division A4, or should a hypothec already ranking ahead of the balance of 
      the sale price be renewed or replaced, provided that the balance of the
      loans secured by such hypothecs is not increased and the BUYER is not
      in default of fulfilling his obligations.

A6.3  TRANSFERABILITY This balance of the sale price shall not be transferred 
      without the prior written consent of the SELLER.

SIGNATURES

BUYER The BUYER acknowledges having read and understood this PROMISE TO 
PURCHASE, including this Annex, and having received a copy hereof.

Signed in ___________________ , on ______________ 20 ______, at ______ o’clock.

___________________________  ______________________________  __________________
Signature of BUYER 1         Signature of spouse of BUYER 1  Witness
___________________________  ______________________________  __________________
Signature of BUYER 2         Signature of spouse of BUYER 2  Witness

SELLER’S REPLY The SELLER acknowledges having read and understood this PROMISE 
TO PURCHASE, including this Annex, and having received a copy hereof.

He hereby ____________________________________________ this PROMISE TO PURCHASE.
             (enter by hand “accepts” or “refuses”)
             □ submits Counter-Proposal CP-□ □ □ □ □

Signed in ____________________ , on ______________ 20 ______, at _____ o’clock.

_______________________________   ________________________
Signature of SELLER 1             Witness

_______________________________   ________________________
Signature of SELLER 2             Witness

ACKNOWLEDGMENT OF RECEIPT The BUYER acknowledges having received a copy of the 
SELLER’S reply.

Signed in ____________________ , on ______________ 20 ______, at _____ o’clock.

_______________________________   ________________________
Signature of BUYER 1              Witness

_______________________________   ________________________
Signature of BUYER 2              Witness

INTERVENTION OF SELLER’S SPOUSE The undersigned declares that he is the spouse 
of the SELLER, that he consents to and, where applicable, concurs in the 
acceptance of this PROMISE TO PURCHASE, including this Annex, and that he 
undertakes to intervene in the notarial act of sale for all legal purposes.

Signed in ____________________ , on ______________ 20 ______, at _____ o’clock.

_______________________________   ________________________
Signature of spouse of SELLER 1   Witness

_______________________________   ________________________
Signature of spouse of SELLER 2   Witness    

O.C. 1865-93, Sch. 2.

SCHEDULE 3

(s. 87)

ANNEX G - GENERAL

LOGO  ANNEX G
      GENERAL

G1.    IDENTIFICATION OF THE PRINCIPAL CONTRACT

The provisions of this Annex are an integral part of the form entitled:

Brokerage Contract BC-__________ Promise to Purchase PP-____________ pertaining
to the IMMOVABLE situated at _______________________________________ (address).

G2.    SUPPLEMENTARY TERMS AND CONDITIONS














SIGNATURE

The _______________ BROKER or the ____________BUYER acknowledges having read
and understood this form and having received a copy hereof.

Signed in _________________________, on ____________ 20 ______, at_____ o’clock

_______________________________
(Signature 1)

_______________________________
(Signature 2)

_______________________________
(Signature: witness)

The SELLER acknowledges having read and understood this form and having 
received a copy hereof.

Signed in _________________________, on ____________ 20 ______, at_____ o’clock


_______________________________
(Signature 1)

_______________________________
(Signature 2)

_______________________________
(Signature: witness)

INTERVENTION OF SELLER’S SPOUSE The undersigned declares that he is the spouse 
of the SELLER, that he consents to and, where applicable, concurs in the 
acceptance of this form, and that he undertakes to intervene in the notarial 
act for all legal purposes.

Signed in _________________________, on ____________ 20 ______, at_____ o’clock


_______________________________
(Signature 1)

_______________________________
(Signature 2)

_______________________________
(Signature: witness)

O.C. 1865-93, Sch. 3.

SCHEDULE 4

(s. 87)

COUNTER-PROPOSAL TO A PROMISE TO PURCHASE

LOGO  COUNTER-PROPOSAL TO A PROMISE TO PURCHASE

P1.   IDENTIFICATION OF THE PARTIES
	
      _______________________________ (Name: 1) _______________________________


      _______________________________ (Name: 2) _______________________________

      □ SELLER
      □ BUYER
      (hereinafter called the COUNTER-PROPOSER)

      _______________________________ (Name: 1) _______________________________


      _______________________________ (Name: 2) _______________________________
      
      □ SELLER
      □ BUYER
      (hereinafter called the RESPONDENT)

P2.   AMENDMENTS

P2.1  The COUNTER-PROPOSER HEREBY PROMISES

      □ to sell to
      □ to purchase from

      the RESPONDENT the immovable or the premises situated at ________________
      (address) (hereinafter called the IMMOVABLE), under the conditions set out 
      in the form entitled:

      Promise to Purchase PP-_________(hereinafter called the PROMISE), with
      the amendments indicated below.

P2.2  PREVIOUS COUNTER-PROPOSALS Any previous counter-proposal made by either
      of the parties shall be null and void.

P2.3  AMENDMENTS ______________________________________________________________










P2.4  OTHER CONDITIONS All other conditions of the PROMISE TO PURCHASE shall 
      remain unchanged.

P2.5  CONDITIONS OF ACCEPTANCE  The parties declare that their consent to this 
      COUNTER-PROPOSAL is not the result of any representation or condition not 
      contained herein. This COUNTER-PROPOSAL is irrevocable until __ o’clock, 
      on _______________, 20 ______.  If this COUNTER-PROPOSAL is accepted by
      that deadline, the COUNTER-PROPOSER  shall be notified of the acceptance 
      within a period of ______hours following that deadline.  If this COUNTER-
      PROPOSAL is not accepted by that deadline or if the COUNTER-PROPOSER is 
      not notified of the acceptance within the period stipulated, this 
      COUNTER-PROPOSAL and the PROMISE shall be null and void and the deposit 
      referred to above and considered to be an instalment on the sale price 
      shall be refunded to the BUYER immediately.  However, if this COUNTER-
      PROPOSAL is accepted and notification is received within the period 
      stipulated, this COUNTER-PROPOSAL and the PROMISE shall constitute a 
      contract that is legally binding on the parties.

SIGNATURES

COUNTER-PROPOSER The COUNTER-PROPOSER acknowledges having read and understood 
this COUNTER-PROPOSAL and having received a copy hereof.

Signed in ________________________, on _____________ 20 _____, at_____ o’clock.

__________________________   ___________________________   ____________________
Signature of COUNTER-         Signature of SPOUSE of        Witness
PROPOSER 1                    COUNTER-PROPOSER 1

__________________________   ___________________________   ____________________
Signature of COUNTER-         Signature of spouse of        Witness
PROPOSER 2                    COUNTER-PROPOSER 2

RESPONDENT’S REPLY The RESPONDENT acknowledges having read and understood this 
COUNTER-PROPOSAL and having received a copy hereof.

He hereby _______________________________________ this COUNTER-PROPOSAL.
          (enter by hand “accepts” or “refuses”)
          
          □ submits Counter-Proposal CP-___________________

Signed in ________________________, on _____________ 20 _____, at_____ o’clock.

_________________________________   __________________________________
Signature  RESPONDENT 1             Witness

_________________________________   __________________________________
Signature RESPONDENT 2              Witness

ACKNOWLEDGMENT OF RECEIPT The COUNTER-PROPOSER acknowledges having received a 
copy of the RESPONDENT’S reply.

Signed in ________________________, on _____________ 20 _____, at_____ o’clock.

_________________________________   __________________________________
Signature  COUNTER-PROPOSER 1        Witness

_________________________________   __________________________________
Signature COUNTER-PROPOSER 2         Witness

INTERVENTION OF SELLER’S SPOUSE The undersigned declares that he is the spouse 
of the SELLER, that he consents to and, where applicable, concurs in the 
acceptance of this COUNTER-PROPOSAL, and that he undertakes to intervene in the 
notarial act of sale for all legal purposes.

Signed in ________________________, on _____________ 20 _____, at_____ o’clock.

_________________________________   __________________________________
Signature of spouse of SELLER 1      Witness

_________________________________   __________________________________
Signature of spouse of SELLER 2     Witness    

O.C. 1865-93, Sch. 4.

SCHEDULE 5

(s. 87)

AMENDMENTS AND NOTICE OF FULFILMENT OF CONDITIONS

LOGO  AMENDMENTS AND NOTICE OF FULFILMENT
      OF CONDITIONS
M1.   IDENTIFICATION OF THE CONTRACT

The parties agree to make the following amendments to the form entitled:

      Brokerage Contract BC-__________________

      Promise to Purchase PP-_________________

pertaining to the IMMOVABLE situated at _______________________________________
(address) _____________________________________________________________________

M2.   AMENDMENTS

M2.1  BROKERAGE CONTRACT

      (a) The date and time of expiry of the brokerage contract, which are 
      provided for in clause ___________________, are amended as follows:

      (b) The sale price referred to in clause of the brokerage contract is 
      amended and shall be dollars ($__________).

M2.2  PROMISE TO PURCHASE

      The period for acceptance of the PROMISE TO PURCHASE referred to in
      clause 10.1 is extended until _________ o’clock on ___________, 20_____ .

M2.3 Other amendments:_________________________________________________________








M3.   FULFILMENT OF CONDITIONS

M3.1  The conditions stipulated in clauses _____ have been fulfilled.

M4.   OTHER CONDITIONS

M4.1  All other conditions shall remain unchanged.

SIGNATURES

      The □ BROKER or the □ BUYER acknowledges having read and 
understood this form and having received a copy hereof.

Signed in ________________________, on _____________ 20 _____, at_____ o’clock.

(Signature 1) _______________________

(Signature 2) _______________________

(Signature: witness) ________________

      The SELLER acknowledges having read and understood this form and having
received a copy hereof.

Signed in ________________________, on _____________ 20 _____, at_____ o’clock.

(Signature 1) _______________________

(Signature 2) _______________________

(Signature: witness) ________________

INTERVENTION OF THE SPOUSE The undersigned declares that he is the spouse of 
the SELLER, that he consents to and, where applicable, concurs in this form,
and that he undertakes to intervene in the notarial act for all legal purposes.

Signed in ________________________, on _____________ 20 _____, at_____ o’clock.

(Signature 1) _______________________

(Signature 2) _______________________

(Signature: witness) ________________    

O.C. 1865-93, Sch. 5.

SCHEDULE 6

(s. 111)

DECLARATION RELATED TO THE OPENING OF A GENERAL TRUST ACCOUNT

To: __________(name and address of financial institution)__________

I, the undersigned, ____________________, as a real estate broker or as the representative for the purposes of the Real Estate Brokerage Act (chapter C-73.1) of ____________________, real estate broker, holding certificate number ____________________ and having its main establishment at____________________, declare the following:

(1) general trust account bearing number ____________________ is open at your institution in the name of ____________________ in trust;

(2) the account contains sums that I receive or will receive in trust in the course of real estate brokerage activities;

(3) the account is governed by the Real Estate Brokerage Act;

(4) under section 11 of that Act, the interest accrued on the sums on deposit in the account must be paid to the financing fund established by the Association des courtiers et agents immobiliers du Québec;

(5) your institution is authorized to transfer directly to the financing fund of the Association des courtiers et agents immobiliers du Québec, for public information, the interest accrued on the account and to deduct at source any administration fees provided for under the agreement entered into with the Association;

(6) in accordance with your registers, the persons whose names and signatures appear below are authorized to sign, on behalf of the real estate broker, any document related to current transactions in the account:

(name) (signature) ;

(name) (signature) ;

(7) the Association des courtiers et agents immobiliers du Québec is irrevocably authorized to request and obtain at all times from your institution any information, explanation or copy of a document necessary or useful for auditing purposes related to the account

IN WITNESS WHEREOF, I have signed in ____________________ on this ____________________ day of ____________________ 20_____.

______________________________________________________

Signature of real estate broker or representative

Solemnly declared before me in ____________________ on this ____________________ day of __________________, 20 _____.

Commissioner for oaths for the judicial district of ____________________

______________________________

Commissioner’s signature

O.C. 1865-93, Sch. 6.

SCHEDULE 7

(s. 113)

DECLARATION RELATED TO THE OPENING OF A SPECIAL TRUST ACCOUNT

To __________(name and address of financial institution)__________

I, the undersigned, ____________________, as a real estate broker or as the representative for the purposes of the Real Estate Brokerage Act (chapter C-73.1) of, ____________________, real estate broker, holding certificate number ____________________ and having its main establishment at ____________________, declare the following:

(1) I have received from ____________________ (name and address of depositor), in the course of real estate brokerage activities, the sum of $__________ in trust;

(2) that sum has been deposited into special trust account number ____________________, opened with your institution in the name of ____________________ in trust.

(3) the account is governed by the Real Estate Brokerage Act;

(4) interest on the sum on deposit in the account is the property of the depositor;

(5) in accordance with your registers, the persons whose names and signatures appear below are authorized to sign, on behalf of the real estate broker, any document related to current transactions in the account:

(name) (signature) ;

(name) (signature) ;

(6) the Association des courtiers et agents immobiliers du Québec is irrevocably authorized to request and obtain at all times from your institution any information, explanation or copy of a document necessary or useful for auditing purposes related to the account.

IN WITNESS WHEREOF, I have signed in ____________________ on this ____________________ day of ________________________, 20 _____.

____________________________________________________

Signature of real estate broker or representative

O.C. 1865-93, Sch. 7.

SCHEDULE 8

(s. 115)

ACKNOWLEDGMENT OF RECEIPT OF A SUM IN CASH

(date) ____________________________________________________________________________________.

I, the undersigned, acknowledge receipt of the sum of ___________________________ dollars ($__________), paid by ____________________________________________________________________ (name of depositor)

(address of depositor).

Where applicable, a receipt conforming to the Real Estate Brokerage Act (chapter C-73.1) and the regulations made thereunder will be issued to the depositor as soon as that sum is deposited into a trust account.

(certificate number of real estate broker)

(name and address of real estate broker)

______________________________________________________________

Signature of person authorized by real estate broker

O.C. 1865-93, Sch. 8.

SCHEDULE 9

(s. 116)

RECEIPT FOR A SUM DEPOSITED INTO A TRUST ACCOUNT

(the number from a series of consecutive numbers attributed to its receipts by the real estate broker)

(date) ____________________________________________________________________________________.

Received from

________________________________________

(name of depositor)

________________________________________

(address of depositor)

the sum of ____________________ dollars ($___________), for deposit into the trust account of the undersigned real estate broker.

That sum has been received by the undersigned as an instalment on the sale price.

The undersigned will use that sum for those purposes, in accordance with the Real Estate Brokerage Act (chapter C-73.1) and the regulations made thereunder.

(certificate number of real estate broker)

(name and address of real estate broker)

______________________________________________________________

Signature of person authorized by real estate broker

O.C. 1865-93, Sch. 9.

SCHEDULE 10

(s. 120)

NOTICE OF THE CLOSING OF A GENERAL TRUST ACCOUNT

Association des courtiers et agents immobiliers du Québec

(address of Association)

I, the undersigned, hereby notify you, in accordance with section 120 of the By-law of the Association des courtiers et agents immobiliers du Québec (chapter C-73.1, r. 2), that general trust account number __________, opened with (name and address of financial institution ____________________ was closed on the day of __________, 20 _____.

IN WITNESS WHEREOF, I have signed in ____________________ on this __________ day of ____________________ , 20 _____.

(certificate number of real estate broker)

(name and address of real estate broker)

______________________________________________________________

Signature of real estate broker or of representative

Solemnly declared before me in ____________________ on this __________ day of ____________________, 20 _____.

Commissioner for oaths for the judicial district of __________________________________________________

______________________________________________________________

Commissioner’s signature

O.C. 1865-93, Sch. 10.

SCHEDULE 11

(s. 122)

SUMMARY OF DEPOSITS AND WITHDRAWALS FROM THE GENERAL TRUST ACCOUNT AND FROM THE SPECIAL TRUST ACCOUNTS

For the quarter covering the period from ____________________, 20 __________ to ____________________ 20 __________.

Information concerning my general trust account:

Account balance, as shown in accounting register 
at beginning of quarter:                                                  $______ ;

PLUS: Total sums deposited during the quarter:                            $______ ;

MINUS: Total sums withdrawn during the quarter:                           $______ ;

Account balance as shown in accounting register at end of quarter:        $______ .

Information concerning all my special trust accounts:                      

Account balances, as shown in accounting registers 
at beginning of quarter:                                                  $______ ;

PLUS: Total sums deposited during the quarter:                            $______ ;

PLUS: Total interest deposited during the quarter:                        $______ ;

MINUS: Total sums withdrawn during the quarter:                           $______ ;

MINUS: Total interest withdrawn during the quarter:                       $______ ;

Account balances, as shown in accounting registers at end of quarter:     $______ ;

Information concerning all my trust accounts:                     

Total balances of accounting registers at end of quarter:                 $______ .
     

IN WITNESS WHEREOF, I have signed in ____________________ on this __________ day of ____________________, 20 __________.

(certificate number of real estate broker)

(name and address of real estate broker)

______________________________________________________________

Signature of person authorized by real estate broker

O.C. 1865-93, Sch. 11.

SCHEDULE 12

(s. 122)

BANK RECONCILIATION STATEMENT OF GENERAL TRUST ACCOUNT AND OF EACH SPECIAL TRUST ACCOUNT

For quarter ended ____________________, 20 __________.

Information concerning my general trust account, number __________________________,
opened with (name and address of financial institution) __________________________.

Account balance, as shown on statement from financial institution:      $________ ;

PLUS: sums not yet deposited:                                           $________ ;

SUB-TOTAL:                                                              $________ ;

MINUS: outstanding cheques, bills of exchange and transfer slips:       $________ ;

TOTAL: account balance after reconciliation:                            $________ ;

Balance, as shown in accounting register:                               $________ ;

DIFFERENCE:                                                             $________ .

Information concerning my special trust account, number __________________________,
opened with (name and address of financial institution) __________________________.

Account balance, as shown on statement from financial institution:      $________ ;

PLUS: sums not yet deposited:                                           $________ ;

SUB-TOTAL:                                                              $________ ;

MINUS: outstanding cheques, bills of exchange and transfer slips:       $________ ;

TOTAL: account balance after reconciliation:                            $________ ;

Balance, as shown in accounting register:                               $________ ;

DIFFERENCE:                                                             $________ .

Information concerning all my trust accounts:

Total account balances after reconciliation:                            $________ . 

IN WITNESS WHEREOF, I have signed in ____________________ on this __________ day of ____________________, 20 __________.

(certificate number of real estate broker)

(name and address of real estate broker)

______________________________________________________________

Signature of person authorized by real estate broker

O.C. 1865-93, Sch. 12.

SCHEDULE 13

(s. 122)

DETAILED LIST OF SUMS HELD IN TRUST

For quarter ended ____________________, 20 __________.

Information concerning my general trust account:            

Number attributed by certificate holder to each transaction:             ________ ;

Sum held in regard to each transaction:                                 $________ ;

Total sums held in general account:                                     $________ .

Information concerning all my special trust accounts:

Number attributed by certificate holder to each transaction:             ________ ;

Sum held in each special account:                                       $________ ;
 
Total sums held in special accounts:                                    $________ .

Information concerning all my trust accounts:                       

Total sums held:                                                        $________ .

IN WITNESS WHEREOF, I have signed in ____________________ on this __________ day of ____________________, 20 __________.

(certificate number of real estate broker)

(name and address of real estate broker)

______________________________________________________________

Signature of person authorized by real estate broker

O.C. 1865-93, Sch. 13.

SCHEDULE 14

(s. 126)

DECLARATION CONCERNING THE ABSENCE OF TRUST ACCOUNT TRANSACTIONS

Association des courtiers et agents immobiliers du Québec

(address of Association)

I, the undersigned, _____________________, as a real estate broker or as the representative for the purposes of the Real Estate Brokerage Act (chapter C-73.1) of, __________________________ real estate broker, holding certificate number __________ and having its principal establishment at ____________________, declare the following:

(1) I do not intend to receive sums on behalf of others in the course of the activity of real estate broker;

(2) if, after this declaration, I receive sums on behalf of others in the course of my real estate brokerage activities, I undertake to comply with the provisions of the Real Estate Brokerage Act and the regulations made thereunder concerning the opening and maintaining of a trust account.

IN WITNESS WHEREOF, I have signed in ____________________ on this __________ day of ____________________, 20 __________.

___________________________________________________________

Signature of real estate broker or representative

Solemnly declared before me in ____________________ on this __________ day of ____________________, 20 __________.

Commissioner for oaths for the judicial district of _________________________________________________.

___________________________________________________________

Commissioner’s signature

O.C. 1865-93, Sch. 14.

REFERENCES

O.C. 1865-93, 1993 G.O. 2, 7077

O.C. 397-2005, 2005 G.O. 2, 1153

O.C. 457-2006, 2006 G.O. 2, 1723

S.Q. 2010, c. 7, s. 282