Bill 88 (Legislature 13, Session 3)

L13 S3 6324

Alberta — Bills

No. 88 3rd Session, 18th Legislature, Alberta 5 Elizabeth II, 1957 BILL 88 A Bill to amend The Real Estate Agents' Licensing Act HON. MR. HOOKE EDMONTON,ALBERTA Printed by A. SHNITKA, Printer to the Queen's Mos,t Excellent Majesty, 1957

Explanatory Note 2. Subsection (2) presently reads: "

(2) The termination of the employment of a salesman with a licensed agent operates as a suspension of the licence of the salesman until, on receipt of application from the salesman, the Superintendent reinstates the licence.". 3. At present agents' and salesmen's licences have to be re newed annually. It is intended to make these licences continuing ones. These amendments remove or replace the references to annual licences and the renewal thereof. 4. New. 5. See note to clause 3.

BILL No. 88 of 1957

An Act to amend The Real Estate Agents' Licensing Act (Assented to , 19.'57) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province .of Alberta, enacts as follows: 1. The Real Estate Agents' Licensing Act, being

chapter 279 of the Revised Statutes of Alberta, 1955, is hereby amended.

Section 4 is amended by striking out subsection (2) and by substituting the following: "

(2) Upon a saleman ceasing to be employed with a licensed agent the licence of the saleman is extinguished.".

Section 6 is amended (

a) as to subsection (1) by striking out the words "during the term thereof", (

b) as to subsection (5) by striking out the words "or renew'al of a licence", (

c) by striking out subsection (6) and by sUbstituting the following: "

(6) On and after the first day of July, 1957, a licence issued under this Act remains in effect until "(

a) it is extinguished under subsection (2) of

section 3 or subsection (2) of

section 4, .or " (

b) it is cancelled or suspended by the Superin ten dent. " . 4. The following new

section is added immediately after

section 6: "Ga. A licensee who ceases to carryon the business of a real estate agent or salesman shall send notice in writing t.o the Superintendent by registered mail and shall return his licence with the notice.".

Section 7 is amended (

a) as t.o subsection (1) by striking out the words "or renewal of a licence",

2 Subsection (2) presently reads: "

(2) An application for an orig-inal licence shall be accompanied by a bond in the prescribed amount and in the prescribed form, and an application for a renewal of a.. licence shall be accompanied by a bond in the prescribed alllount and in t~e prescribed form or by a certificate of a surety company that a surety bond previously filed on behalf of the applicant is in effect.". References to the renewal of a licence are removed. 6. See note to clause 3. 7. See note to clause 3.

Section 13 presently reads: "13. The Lieutenant Governor in Council may direct the Minister to assign a bond forfeited under the provisions of

section 12, or to pay over moneys recovered thereunder, to a person, or into court, in trust for such persons as become judgment creditors of the person bonded, or to any trustee, custodian, interim receiver, receiver or liquidator of the person bonded.". By this all judgment creditors of the bonded person may share in the proceeds, whether their claim is connected with a real estate transaction or not. The amendment restricts the disposition of bond money paid into court to persons whose claim is based on a fraud by the salesman in connection with a real estate trans action. 9. See note to clause 3.

2 (

b) by striking out subsection (2) and by substituting the following: "

(2) An application for a licence shall be ac companied by a bond in the prescribed amount and in the prescribed form unless there has been previously filed with the Superintendent a bond which is in full force and effect.".

Section 8, subsection (1) is amended by striking out the words "or renewal of a licence".

Section 12, subsection (2) is amended by striking out the words "or renewal thereof".

Section 13 is struck out and the following is sub stituted: "13.

(1) The Lieutenant Governor in Council may direct the Minister to pay any moneys received or recov ered under a bond forfeited under the provisions of

section 12 I I ! " (

a) to such person or persons as the order in council may designate, or " (

b) into court in trust for such persons who before the time limited in subsection (2) obtained judgment against the person bonded, based on a finding of fraud in the trading of real estate. "

(2) Any moneys remaining in the court two years after the date the bond was forfeited shall be repaid to the Minister." .

Section 40 is amended by striking out the words "and renewals of licences" where they occur in clauses (

b) and (e). 10. This Act comes into force on the day upon which the Revised Statutes of Alberta, 1955, come into force.

No. 88 THIRD SESSION THIRTEENTH LEGISLATURE 5 ELIZABETH II 1957 BILL

An Act to amend The Real Estate Agents' Licensing Act Received and read the First time ......................................... . Second time ....................................... . Third time ......................................... . HON. MR. HOOKE Title: 1957 (13th, 3rd) Bill 88,

An Act to amend The Real Estate Agents' Licensing Act

Document details

Collection	Alberta — Bills
Citation	L13 S3 6324
Type	bill
Volume / chapter	L13 S3 6324
Language	en
Format	json
Source	PROVINCIAL
Identifier	655964e587bcbabddafe07e411ace8421bbf8983

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