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

Section 79 Disposition versions

2012-09-01

79. Unless the holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate has sent to the Association, in accordance with section 126, a declaration to the effect that he does not intend to receive any sums on behalf of others in the performance of his duties, the holder of a real estate broker’s or agent’s certificate shall, when acting as an intermediary with regard to a transaction referred to in section 1 of the Act, recommend that a reasonable deposit be paid in trust to the holder of a real estate broker’s certificate other than an affiliated real estate broker’s certificate to whom the brokerage contract was awarded, unless that certificate holder gives instructions to the contrary.

The first paragraph also applies to the holder of an affiliated real estate broker’s certificate or of a real estate agent’s certificate who is employed by or authorized to act on behalf of a multidisciplinary firm holding a certificate provided for in any of paragraphs 5 to 10 of section 1 of the Regulation respecting multidisciplinary firms, unless the latter certificate holder has sent to the Inspector General, in accordance with section 20.23 of that Regulation, a declaration to the effect that it does not intend to receive any sums on behalf of others in the course of its activities.

O.C. 1865-93, s. 79.