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C-73.2, r. 1 - Regulation respecting brokerage requirements, professional conduct of brokers and advertising
Section 52
Disposition versions
52. (Revoked).
O.C. 299-2010, s. 52; 173-2023O.C. 173-2023, s. 311.
52. A licence holder must without delay make a written disclosure of the following information to the borrower retaining the holder’s services so that the holder may act as the intermediary for a loan secured by immovable hypothec:
(1) the number of lenders who in the previous 12 months have made loans for which the broker or agency acted as the intermediary; and
(2) the fact that the broker or agency in the previous 12 months was a lender while brokerage or agency services were retained so that the broker or agency could act as the intermediary for a loan secured by immovable hypothec.
For the purposes of subparagraph 1 of the first paragraph, if there is more than one lender for the same loan, the lenders are considered to be one lender.
On request, a licence holder must without delay make a written disclosure to a borrower
(1) of the fact that the broker or agency in the previous 12 months was the lender of more than 50% of the total number of loans secured by immovable hypothec for which the broker’s or agency’s services were retained so that the broker or agency could act as the intermediary; and
(2) of the name of the lender that, if applicable, made more than 50% of the total number of hypothecary loans or loan renewals for which the broker or agency acted as the intermediary during the previous 12 months.
