Fix paragraphs on summary
As provided for in the Real Estate Brokerage Act, the OACIQ Board consists of eleven (11) Directors, eight (8) of whom are elected among licence holders and the other three (3), who are neither broker, manager nor executive officer of an agency, are appointed by the Minister of Finance.
We are happy to inform you that new session dates have been added in June; an updated schedule is available now on Synbad, the OACIQ Extranet.
The new Real Estate Brokerage Act no longer presents any obstacles to the maintenance, preservation and archiving of records and registers on electronic medium. However, keep in mind that Electronic Document Management (EDM) must not be taken lightly.
Several of you sent us comments regarding the increase in the chargeable fees appearing on that invoice. It is our role to shed light on issues such as these, and to refer you to the documents containing the information that has already been made public on this topic.
Agency delegating the opening and maintaining of a trust account to another agency: What does it involve?
Since May 1, 2010, an agency may delegate to only one other agency the opening and maintaining of a trust account. The agency delegating this responsibility is not required to open its own trust account.
Mandatory education activity on the new Real Estate Brokerage Act: schedule and registration procedures
As announced in the last issue of pro@ctive, we are actively working on developing the schedule for the mandatory continuing education activities that will be held across Québec starting June 8, 2010. See schedule on Synbad.
Electronic Document Management (EDM): Maintenance, Preservation and Archiving of Records and Registers
The new Real Estate Brokerage Act no longer presents any obstacles to the maintenance, preservation and archiving of records and registers on electronic medium.
Since May 1, a ''Transitional Annex'' form must be attached to any brokerage contract entered into on or after that date. We remind you that a PDF version of this form was made available on Synbad on April 20. A carbonless paper version is also available from the Synbad online store.
The adoption of the new Real Estate Brokerage Act has had a major impact on the insurance policy issued by the Fonds d’assurance responsabilité professionnelle du courtage immobilier du Québec. Policies will now be issued on an individual basis.
In the special InfoLetter issued April 14 announcing the coming into force of the new Real Estate Brokerage Act on May 1, 2010, we mentioned the possibility of the OACIQ making the continuing education activity on the new Act mandatory for all brokers.