C-73.2, r. 8 - Regulation respecting broker’s and agency licences

Section 15 Disposition versions

2023-03-23

15. A broker’s licence is suspended by the Organization if

(1)  the holder fails to pay any sum owing to the insurance fund other than the premium;

(2)  the holder fails to take within the prescribed time any course or complete any training program as required by the inspection or discipline committee or taken as a consequence of a voluntary commitment on the holder’s part;

(3)  the holder fails to take any continuing or additional training as required by the Organization and, where applicable, to pass the training;

(4)  the holder fails to set up and maintain a trust account in accordance with the Regulation respecting records, books and registers, trust accounting and inspection of brokers and agencies (chapter C-73.2, r. 4);

(5)  the Organization becomes aware of the broker’s failure to update information or a document required under the Real Estate Brokerage Act (chapter C-73.2) or this Regulation;

(6)  the holder no longer meets a requirement for the issue or maintenance of the licence, other than the requirement in subparagraph 6 of the first paragraph of section 1, and no specific provision in the Real Estate Brokerage Act or this Regulation deals with such a failure;

(7)  the licence of the agency for which the licence holder carries on activities is suspended or revoked; or

(8)  the holder ceases to carry on activities for an agency.

O.C. 295-2010, s. 15; O.C. 157-2012, s. 7; O.C. 174-2023, s. 14.

2012-09-01

15. A broker’s licence is suspended by the Organization if

(1)  the holder fails to pay any sum owing to the insurance fund other than the premium;

(2)  the holder fails to take within the prescribed time any course or complete any training program as required by the inspection or discipline committee or taken as a consequence of a voluntary commitment on the holder’s part;

(3)  the holder fails to take additional training as required by the Organization and, where applicable, to pass the training;

(4)  the holder fails to set up and maintain a trust account in accordance with the Regulation respecting records, books and registers, trust accounting and inspection of brokers and agencies (chapter C-73.2, r. 4);

(5)  the Organization becomes aware of the broker’s failure to update information or a document required under the Real Estate Brokerage Act (chapter C-73.2) or this Regulation;

(6)  the holder no longer meets a requirement for the issue or maintenance of the licence, other than the requirement in subparagraph 6 of the first paragraph of section 1, and no specific provision in the Real Estate Brokerage Act or this Regulation deals with such a failure;

(7)  the licence of the agency for which the licence holder carries on activities is suspended or revoked; or

(8)  the holder ceases to carry on activities for an agency.

O.C. 295-2010, s. 15; O.C. 157-2012, s. 7.