N-3, r. 8.1 - Regulation respecting the compensation fund of the Chambre des notaires du Québec

Section 18 Disposition versions

2020-04-09

18. The maximum compensation payable out of the fund is $200,000 per claim arising from a notary’s use, in connection with a service contract, of sums or property for purposes other than those for which they were entrusted to him in the practice of his profession.

The maximum compensation payable out of the fund is $200,000 for the aggregate of claims against the fund arising from a notary’s use, in connection with one or more service contracts entered into with several persons for the same service, of moneys or property for purposes other than those for which they were entrusted to him in the practice of his profession. Where the total of the claims allowed in a case contemplated in this paragraph exceeds the maximum indemnity, the indemnity is distributed in proportion to the amount of each claim.

For the purposes of this section, “service” means the performance of professional services by a notary pursuant to a service contract entrusted to the notary for the benefit of 2 or more persons.

O.C. 59-2012, s. 18; O.C. 171-2020, s. 14.

2012-09-01

18. The maximum indemnity payable out of the fund is $100,000 per claim arising from a notary’s use, in connection with a contract for services, of moneys or property for purposes other than those for which they were entrusted to him in the practice of his profession.

The maximum indemnity payable out of the fund is $100,000 for the aggregate of claims addressed to the fund arising from a notary’s use, in connection with one or more contracts for services concluded with several persons for the same service, of moneys or property for purposes other than those for which they were entrusted to him in the practice of his profession. Where the total of the claims allowed in a case contemplated in this paragraph exceeds the maximum indemnity, the indemnity is distributed in proportion to the amount of each claim.

For the purposes of this section, service includes the performance of professional services by a notary pursuant to a contract for services for the benefit of 2 or more persons, in particular but without limiting the foregoing, the acquisition or sale of a family residence or an undivided co-ownership, the settlement of a succession, the creation of a patrimony by appropriation or of the constitution of a legal person, and any investment of a movable or immovable nature.

O.C. 59-2012, s. 18.