C-73.1, r. 2 - By-law of the Association des courtiers et agents immobiliers du Québec

Section 56 Disposition versions

2012-09-01

56. The insurance contract may provide for a deductible not exceeding $5,000.

Notwithstanding the first paragraph, the deductible may be greater than $5,000. In such case, a certificate holder referred to in section 53 shall at all times maintain net liquid assets at least equal to the amount of the deductible stipulated in his insurance contract.

For the purposes of this section, “net liquid assets” means the amount by which liquid assets exceed total short-term liabilities.

O.C. 1865-93, s. 56.