C-73.2, r. 3 - Regulation respecting the issue of broker’s and agency licences

Full text
15. A broker’s licence is suspended by the Organization if
(1)  the holder fails to pay any sum owing to the insurance fund other than the premium;
(2)  the holder fails to take within the prescribed time any course or complete any training program as required by the inspection or discipline committee or taken as a consequence of a voluntary commitment on the holder’s part;
(3)  the holder fails to take additional training as required by the Organization and, where applicable, to pass the training;
(4)  the holder fails to set up and maintain a trust account in accordance with the Regulation respecting records, books and registers, trust accounting and inspection of brokers and agencies (chapter C-73.2, r. 4);
(5)  the Organization becomes aware of the broker’s failure to update information or a document required under the Real Estate Brokerage Act (chapter C-73.2) or this Regulation;
(6)  the holder no longer meets a requirement for the issue or maintenance of the licence, other than the requirement in subparagraph 6 of the first paragraph of section 1, and no specific provision in the Real Estate Brokerage Act or this Regulation deals with such a failure;
(7)  the licence of the agency for which the licence holder carries on activities is suspended or revoked; or
(8)  the holder ceases to carry on activities for an agency.
O.C. 295-2010, s. 15; O.C. 157-2012, s. 7.