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B-1.1, r. 8 - Regulation respecting the guarantee plan for new residential buildings

Section 47
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47. The manager shall, before the beginning of his operations, pay a contribution of $8,500,000. If he undertakes to obtain and to keep in force additional insurance or any other equivalent guarantee of at least $1,000,000 over and above the reserve account, the contribution that he shall pay is $7,500,000.
A contribution paid in cash shall be deposited in a separate bank account or be invested in one of the forms provided for in section 46.
O.C. 841-98, s. 47; O.C. 156-2014, s. 30.
47. The manager shall, before the beginning of his operations, pay a contribution of $1,500,000. If he undertakes to obtain and to keep in force additional insurance or any other equivalent guarantee of at least $1,000,000 over and above the reserve account, the contribution that he shall pay is $500,000.
A contribution paid in cash shall be deposited in a separate bank account or be invested in one of the forms provided for in section 46.
O.C. 841-98, s. 47.
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