C-26 - Professional Code

Section 89 Disposition versions

2011-06-13

89. The members of an order may not, in the practice of their profession, hold funds or property, including advances on fees, on behalf of a client or another person, unless it is expressly authorized by the board of directors by regulation.

If it authorizes the members of the order to hold such funds or property, the board of directors must, subject to the Unclaimed Property Act (chapter B-5.1), determine by regulation

(1)  procedures and standards for holding and disposing of such funds or property; and

(2)  procedures and standards for keeping and auditing members’ books and registers and, if applicable, for holding and auditing a trust account.

1973, c. 43, s. 87; 1974, c. 65, s. 19; 1988, c. 29, s. 23; 1990, c. 52, s. 2; 1994, c. 40, s. 77; 1997, c. 80, s. 56; 2000, c. 13, s. 18; 2008, c. 11, s. 1; 2008, c. 11, s. 58; 2011, c. 10, s. 69.

2009-01-31

89. The members of an order may not, in the practice of their profession, hold funds or property, including advances on fees, on behalf of a client or another person, unless it is expressly authorized by the board of directors by regulation.

If it authorizes the members of the order to hold such funds or property, the board of directors must, subject to the Public Curator Act (chapter C-81), determine by regulation

(1)  procedures and standards for holding and disposing of such funds or property; and

(2)  procedures and standards for keeping and auditing members’ books and registers and, if applicable, for holding and auditing a trust account.

1973, c. 43, s. 87; 1974, c. 65, s. 19; 1988, c. 29, s. 23; 1990, c. 52, s. 2; 1994, c. 40, s. 77; 1997, c. 80, s. 56; 2000, c. 13, s. 18; 2008, c. 11, s. 1; 2008, c. 11, s. 58.

2008-10-15

89. The board of directors of an order whose members are called upon to hold sums of money or other securities for the account of their clients must, subject to the provisions of the Public Curator Act (chapter C‐81) pertaining to unclaimed property, determine by regulation the terms, conditions and standards for receipt, custody and disposition of the sums of money and securities so held, and the terms, conditions and standards relating to the keeping and auditing of trust accounts, books and registers of such members. The regulation shall establish an indemnity fund to be used to repay the amounts of money or other securities used by a professional for purposes other than those for which they had been delivered to him in the practice of his profession and it shall fix the rules of administration and of investment of the sums of money making up the fund.

The regulation shall determine the terms and conditions applicable to the filing of claims addressed to the fund and to the payments made by the latter.

The regulation may, in addition,

(1)  fix the maximum amount that the fund may pay to a claimant in respect of the same professional;

(2)  fix the maximum amount that the fund may pay to all the claimants in respect of the same professional.

Where a maximum amount is fixed by regulation pursuant to subparagraph 2 of the preceding paragraph and, after application of the limit prescribed pursuant to subparagraph 1 of the same paragraph, if any, the total of the claims against the same professional exceeds the maximum amount thus fixed, the indemnity shall be distributed in proportion to the amount of each claim.

A person, a committee or a member of a committee designated by the board of directors for the purposes of this section may conduct an inquiry and report to the board of directors on any claim filed with an indemnity fund.

The person or the committee members mentioned in the fifth paragraph shall take the oath set out in Schedule II.

Section 114 applies to any inquiry conducted pursuant to the fifth paragraph.

1973, c. 43, s. 87; 1974, c. 65, s. 19; 1988, c. 29, s. 23; 1990, c. 52, s. 2; 1994, c. 40, s. 77; 1997, c. 80, s. 56; 2000, c. 13, s. 18; 2008, c. 11, s. 1.

2000-07-12

89. The Bureau of an order whose members are called upon to hold sums of money or other securities for the account of their clients must, subject to the provisions of the Public Curator Act (chapter C‐81) pertaining to unclaimed property, determine by regulation the terms, conditions and standards for receipt, custody and disposition of the sums of money and securities so held, and the terms, conditions and standards relating to the keeping and auditing of trust accounts, books and registers of such members. The regulation shall establish an indemnity fund to be used to repay the amounts of money or other securities used by a professional for purposes other than those for which they had been delivered to him in the practice of his profession and it shall fix the rules of administration and of investment of the sums of money making up the fund.

The regulation shall determine the terms and conditions applicable to the filing of claims addressed to the fund and to the payments made by the latter.

The regulation may, in addition,

(1)  fix the maximum amount that the fund may pay to a claimant in respect of the same professional;

(2)  fix the maximum amount that the fund may pay to all the claimants in respect of the same professional.

Where a maximum amount is fixed by regulation pursuant to subparagraph 2 of the preceding paragraph and, after application of the limit prescribed pursuant to subparagraph 1 of the same paragraph, if any, the total of the claims against the same professional exceeds the maximum amount thus fixed, the indemnity shall be distributed in proportion to the amount of each claim.

A person, a committee or a member of a committee designated by the Bureau for the purposes of this section may conduct an inquiry and report to the Bureau on any claim filed with an indemnity fund.

The person or the committee members mentioned in the fifth paragraph shall take the oath set out in Schedule II.

Section 114 applies to any inquiry conducted pursuant to the fifth paragraph.

1973, c. 43, s. 87; 1974, c. 65, s. 19; 1988, c. 29, s. 23; 1990, c. 52, s. 2; 1994, c. 40, s. 77; 1997, c. 80, s. 56; 2000, c. 13, s. 18.

1999-07-01

89. The Bureau of an order whose members are called upon to hold sums of money or other securities for the account of their clients must, subject to the provisions of the Public Curator Act (chapter C‐81) pertaining to unclaimed property, determine by regulation the terms, conditions and standards for receipt, custody and disposition of the sums of money and securities so held, and the terms, conditions and standards relating to the keeping and auditing of trust accounts, books and registers of such members. The regulation shall establish an indemnity fund to be used to repay the amounts of money or other securities used by a professional for purposes other than those for which they had been delivered to him in the practice of his profession and it shall fix the rules of administration and of investment of the sums of money making up the fund.

The regulation shall determine the terms and conditions applicable to the filing of claims addressed to the fund and to the payments made by the latter.

The regulation may, in addition,

(1)  fix the maximum amount that the fund may pay to a claimant in respect of the same professional;

(2)  fix the maximum amount that the fund may pay to all the claimants in respect of the same professional.

Where a maximum amount is fixed by regulation pursuant to subparagraph 2 of the preceding paragraph and, after application of the limit prescribed pursuant to subparagraph 1 of the same paragraph, if any, the total of the claims against the same professional exceeds the maximum amount thus fixed, the indemnity shall be distributed in proportion to the amount of each claim.

1973, c. 43, s. 87; 1974, c. 65, s. 19; 1988, c. 29, s. 23; 1990, c. 52, s. 2; 1994, c. 40, s. 77; 1997, c. 80, s. 56.

1994-10-15

89. The Bureau of an order whose members are called upon to hold sums of money or other securities for the account of their clients, must determine, by regulation, the terms, conditions and standards for receipt, custody and disposition of the sums of money and securities so held, and the terms, conditions and standards relating to the keeping and auditing of trust accounts, books and registers of such members. The regulation shall establish an indemnity fund to be used to repay the amounts of money or other securities used by a professional for purposes other than those for which they had been delivered to him in the practice of his profession and it shall fix the rules of administration and of investment of the sums of money making up the fund.

The regulation shall determine the terms and conditions applicable to the filing of claims addressed to the fund and to the payments made by the latter.

The regulation may, in addition,

(1)  fix the maximum amount that the fund may pay to a claimant in respect of the same professional;

(2)  fix the maximum amount that the fund may pay to all the claimants in respect of the same professional.

Where a maximum amount is fixed by regulation pursuant to subparagraph 2 of the preceding paragraph and, after application of the limit prescribed pursuant to subparagraph 1 of the same paragraph, if any, the total of the claims against the same professional exceeds the maximum amount thus fixed, the indemnity shall be distributed in proportion to the amount of each claim.

1973, c. 43, s. 87; 1974, c. 65, s. 19; 1988, c. 29, s. 23; 1990, c. 52, s. 2; 1994, c. 40, s. 77.

1990-11-21

89. The Bureau of a corporation whose members are called upon to hold sums of money or other securities for the account of their clients, must establish, by regulation, an indemnity fund to be used to repay the amounts of money or other securities used by a professional for purposes other than those for which they had been delivered to him in the practice of his profession and it shall fix, by regulation, the rules of administration and of investment of the sums of money making up the fund.

The regulation shall determine the terms and conditions applicable to the filing of claims addressed to the fund and to the payments made by the latter.

The regulation may, in addition,

(1)  fix the maximum amount that the fund may pay to a claimant in respect of the same professional;

(2)  fix the maximum amount that the fund may pay to all the claimants in respect of the same professional.

Where a maximum amount is fixed by regulation pursuant to subparagraph 2 of the preceding paragraph and, after application of the limit prescribed pursuant to subparagraph 1 of the same paragraph, if any, the total of the claims against the same professional exceeds the maximum amount thus fixed, the indemnity shall be distributed in proportion to the amount of each claim.

1973, c. 43, s. 87; 1974, c. 65, s. 19; 1988, c. 29, s. 23; 1990, c. 52, s. 2.

1988-06-17

89. The Bureau of a corporation whose members are called upon to hold sums of money or other securities for the account of their clients, must establish, by regulation, an indemnity fund to be used to repay the amounts of money or other securities used by a professional for purposes other than those for which they had been delivered to him in the practice of his profession and it shall fix, by regulation, the rules of administration and of investment of the sums of money making up the fund.

The regulation shall also

(1)  prescribe the terms and conditions for the presentation of claims to the indemnity fund and for payment of indemnities;

(2)  fix the maximum amount of indemnities payable out of the indemnity fund in respect of the same claim.

1973, c. 43, s. 87; 1974, c. 65, s. 19; 1988, c. 29, s. 23.

1977-12-31

89. The Bureau of a corporation whose members are called upon to hold sums of money or other securities for the account of their clients, must establish, by regulation, an indemnity fund to be used to repay the amounts of money or other securities used by a professional for purposes other than those for which they had been delivered to him in the practice of his profession and it shall fix, by regulation, the rules of administration.

1973, c. 43, s. 87; 1974, c. 65, s. 19.