Trust account
18(1)An agent shall have at least one interest bearing account for deposits
(a)
at an institution that has in force a policy of insurance for such deposits under the
Canada Deposit Insurance Corporation Act (Canada), or
(b)
at an institution that is authorized by the regulations to accept deposits.
18(2)An account under subsection (1) shall be designated as a trust account both in the books of the agent and in the records of the institution.
R.S.1973, c.R-1, s.11; 1983, c.75, s.11; 1995, c.31, s.6