74. The board of directors must determine, by by-law subject to government approval(1) the limits of the regions referred to in section 86;
(2) the various categories of certificates the Association may issue and the conditions and restrictions attached to each;
(3) the period of validity of a certificate;
(4) the conditions for and the manner of issuing, renewing, suspending, cancelling or reinstating a certificate;
(5) the information and documents a member must submit when applying for the issue, renewal or reinstatement of a certificate;
(6) the particulars a certificate must contain;
(7) the manner in which civil liability insurance must be taken out and the conditions thereof, and the cases in which a security or guarantee may replace such insurance and the conditions thereof;
(7.1) the premium a broker must pay to the insurance fund and the related criteria;
(8) the conditions applicable to the carrying on of the activity of real estate broker;
(9) the rules stating the conditions, obligations and, where applicable, prohibitions concerning advertising, customer solicitation or representations by a member;
(10) the rules relating to the disclosure of the sharing of a broker’s compensation with a firm, independent representative or independent partnership;
(11) the manner in which disclosure is made under section 22;
(12) the nature, form and tenor of the books and registers that must be kept by members;
(13) the rules relating to the setting up and maintenance of a trust account;
(14) the rules relating to the application of the first paragraph of section 13;
(15) the rules relating to the application of section 18;
(16) the rules relating to the preservation, use and destruction of the records, books and registers that must be kept by members;
(17) the content, form and use of the mandatory forms designated by government regulation;
(18) the rules relating to the preparation of examinations to be taken by persons wishing to obtain a certificate prescribed under this Act;
(19) the means of communication permitting members of the board of directors who are not present at a sitting of the board of directors to vote to allow decisions to be made, and the conditions subject to which they may do so.
The board of directors must also, by by-law subject to government approval,(1) establish a fund, consisting of the interest generated by the sums of money held in trust, to be used primarily for the production and release of information relating to the rights of the public in the field of real estate brokerage and subsidiarily for professional inspection and, if funds are sufficient, for discipline;
(2) determine the rules governing the administration of the financing fund and the terms and conditions of payment into the fund of the interest generated by the sums of money held in trust.