43(1)Where a person is obligated to pay an amount to the Law Society under the Act and the Act authorizes security to be taken, the debt may be secured by the deposit of security, including mortgages, chattel mortgages and promissory notes.

43(2)Where a person secures an obligation to the Law Society as authorized in subsection (1), the Provincial Director or his agent shall prepare a memorandum of the transaction in Form 10 and shall deliver a copy of the memorandum to the person securing the obligation to the Law Society.