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

Section 3 Disposition versions

2012-09-01

3. A notary may practise his profession within a partnership or company that presents itself exclusively as a notarial partnership or company, if the following conditions are respected at all times:

(1)  the majority of votes attached to the company or partnership shares must be held and cast by the following persons or trust patrimonies, or a combination thereof:

(a)  at least one notary;

(b)  a joint-stock company where at least 90% of the voting shares are held and cast by at least one notary who carry on professional activities within the company;

(c)  a trust where all the trustees are notaries who carry on professional activities within the partnership or company;

(2)  the majority of the directors, partners, or managers are notaries who carry on professional activities within the partnership or company.

To constitute a quorum at a meeting of the managers or board of a partnership or company, the majority of members present must be notaries if they are to commit the partnership or company.

A notary who is a partner, director, manager, officer, or shareholder of the partnership or company shall ensure that these conditions, as well as a stipulation to the effect that the partnership or company is constituted for the purpose of carrying on professional activities, are included in the articles of the company or the partnership agreement.

O.C. 1092-2005, s. 3.