34. A person is qualified as an executive officer of a real estate or mortgage agency if the person
(1) holds a real estate or mortgage broker’s licence that is neither suspended nor subject to restrictions or conditions unless it is a restriction referred to in section 2;
(2) is able to act for his or her own account;
(3) meets either of the following conditions, showing that the person is qualified to manage the professional activities of brokers and agencies:
(a) has passed one of the training programs recognized in an agreement between the Organization and an educational institution and that deals with the skills a real estate or mortgage broker agency executive officer must have, provided for in the system of reference available on the Organization’s official website and has passed, in accordance with Division VII, the examination for executive officers of real estate or mortgage agencies;
(b) has qualified as an executive officer of a real estate or mortgage agency for 3 of the last 5 years; or
(c) is authorized to represent, direct or qualify a person or partnership that engages in brokerage transactions within the meaning of section 1 of the Real Estate Brokerage Act (chapter C-73.2) through the intermediary of natural persons authorized to engage in such transactions in a province, state or territory for which an agreement on the mutual recognition of professional qualifications has been entered into by the Gouvernement du Québec and another government; and
(4) after qualifying as an executive officer of a real estate or mortgage agency, has taken and, where applicable, passed all additional training required for some or all brokers to qualify as agency executive officers.
To maintain qualification, an executive officer of a real estate or mortgage agency must continue to meet the requirements of subparagraphs 1, 2 and 4.
O.C. 295-2010, s. 34; O.C. 157-2012, s. 12; O.C. 937-2013, s. 5.