N-3, r. 7 - Regulation respecting the practice of the notarial profession within a partnership or joint-stock company

Section 10 Disposition versions

2020-04-01

10. (See French Edition).

O.C. 1092-2005, s. 10; I.N. 2016-01-01 (NCCP); Décision OPQ 2020-387 (French only), s. 17.

2016-01-01

10. The security must include the following undertakings:

(1)  an undertaking by the insurer to pay in the place and stead of the partnership or company, in addition to the amount of coverage that must be supplied by the notary under the Regulation respecting subscription to the Professional Liability Insurance Fund of the Chambre des notaires du Québec (chapter N-3, r. 14), any amount, up to the amount of the security, that the partnership or company may be legally held to pay to third parties in respect of a claim during the period covered by the security and resulting from fault or negligence on the part of the notary in the practice of his profession within the partnership or company;

(2)  an undertaking by the insurer or the surety to indemnify and hold the partnership or company harmless in any legal action against the partnership or company, and to pay, in addition to the amounts covered by the security, all the legal costs and expenses of actions brought against the partnership or company, including those of the investigation and defence, and interest on the amount of the security;

(3)  an undertaking that the security will be not less than $1,000,000 per incident and will be for all claims against the partnership or company in the course of a secured period of not more than 12 months, regardless of the number of members in the partnership or company;

(4)  where a notary carries on alone all professional activities within a company, an undertaking that the security will not be less than $500,000 per incident and will be for all claims against the company in the course of a secured period of not more than 12 months.

O.C. 1092-2005, s. 10; I.N. 2016-01-01 (NCCP).

2012-09-01

10. The security must include the following undertakings:

(1)  an undertaking by the insurer to pay in the place and stead of the partnership or company, in addition to the amount of coverage that must be supplied by the notary under the Regulation respecting subscription to the Professional Liability Insurance Fund of the Chambre des notaires du Québec (chapter N-3, r. 14), any amount, up to the amount of the security, that the partnership or company may be legally held to pay to third parties in respect of a claim during the period covered by the security and resulting from fault or negligence on the part of the notary in the practice of his profession within the partnership or company;

(2)  an undertaking by the insurer or the surety to indemnify and hold the partnership or company harmless in any legal action against the partnership or company, and to pay, in addition to the amounts covered by the security, all the costs and expenses of actions brought against the partnership or company, including the costs and expenses of investigation and defence, and interest on the amount of the security;

(3)  an undertaking that the security will be not less than $1,000,000 per incident and will be for all claims against the partnership or company in the course of a secured period of not more than 12 months, regardless of the number of members in the partnership or company;

(4)  where a notary carries on alone all professional activities within a company, an undertaking that the security will not be less than $500,000 per incident and will be for all claims against the company in the course of a secured period of not more than 12 months.

O.C. 1092-2005, s. 10.