WHEREAS pursuant to section 84(1) of the Real Estate Act, S.A. 1995, c. R-4.5, the (the “Act”), the Real Estate Council of Alberta (the “Council”) has the power, duty and responsibility to amend or appeal bylaws and rules.
THEREFORE BE IT RESOLVED THAT:
Rule 70(2) be amended from:
70(2) A person who applies for a real estate agent’s licence or a renewal of such a licence shall pay the following assessments for the purposes of the Real Estate Assurance Fund:
(a) $125 plus $50 for each branch office from which the agent trades in real estate;
(b) $50 for each salesperson employed by the agent.
to read as follows:
70(2) A person who applies for a real estate agent’s licence or a mortgage broker agent’s licence or a renewal of such a licence shall pay the following assessments for the purposes of the Real Estate Assurance Fund:
(a) $75 plus $25 for each branch office from which the agent trades in real estate;
(b) $25 for each salesperson employed by the real estate agent;
(c) $125 plus $50 for each branch office from which the agent deals as a mortgage broker;
(d) $50 for each salesperson employed by the mortgage agent.
DATED at Calgary, Alberta, this 17 th day of June 1998.
