Resolution 2016-1 of the Real Estate Council of Alberta
by Section 12(p) of the Real Estate Act, confirms the Real Estate Council of Alberta may make rules requiring industry members to acquire, maintain or provide insurance against their liability for errors and omissions in the carrying on of the business of an industry member and respecting the amount and form of insurance and the terms and conditions under which insurance is to be provided, or requiring industry members to participate in an indemnity plan for that purpose;
At its meeting on January 20, 2016, Council passed a motion to amend Real Estate Act Rule s.114(3).
THEREFORE BE IT RESOLVED THAT:
The Real Estate Act Rules section 114(3) be amended as follows:
114(3) The advisory board shall consist of at least five members, all of whom must be brokers, associate brokers or associates.
Dated at Calgary, Alberta, this 20th day of January, 2016