Acts and Regulations

2011, c.215 - Real Estate Agents Act

Section 49
Disposition versions

Full text
Assets of Real Estate Council
49(1)Despite the repeal of sections 19, 20 and 20.1 of the Real Estate Agents Act, chapter R-1 of the Revised Statutes, 1973, effective July 1, 1996, the Real Estate Council retains the power and authority that is necessary so as to enable it to carry out the requirements of subsection (2).
49(2)The Real Estate Council shall collect any money owing to it under section 13.4 of the Real Estate Agents Act, chapter R-1 of the Revised Statutes, 1973, as it existed immediately before July 1, 1996, and shall pay off its debts and transfer its remaining assets to The New Brunswick Real Estate Association for its use.
49(3)The New Brunswick Real Estate Association shall not use or invest any money transferred to it from the Real Estate Council, or any of the interest accruing on the money, without the prior approval of the Director.
1995, c.31, s.23; 2013, c.31, s.33
Assets of Real Estate Council
49(1)Despite the repeal of sections 19, 20 and 20.1 of the Real Estate Agents Act, chapter R-1 of the Revised Statutes, 1973, effective July 1, 1996, the Real Estate Council retains the power and authority that is necessary so as to enable it to carry out the requirements of subsection (2).
49(2)The Real Estate Council shall collect any money owing to it under section 13.4 of the Real Estate Agents Act, chapter R-1 of the Revised Statutes, 1973, as it existed immediately before July 1, 1996, and shall pay off its debts and transfer its remaining assets to The New Brunswick Real Estate Association for its use.
49(3)The New Brunswick Real Estate Association shall not use or invest any money transferred to it from the Real Estate Council, or any of the interest accruing on the money, without the prior approval of the Director.
1995, c.31, s.23; 2013, c.31, s.33
Assets of Real Estate Council
49(1)Despite the repeal of sections 19, 20 and 20.1 of the Real Estate Agents Act, chapter R-1 of the Revised Statutes, 1973, effective July 1, 1996, the Real Estate Council retains the power and authority that is necessary so as to enable it to carry out the requirements of subsection (2).
49(2)The Real Estate Council shall collect any money owing to it under section 13.4 of the Real Estate Agents Act, chapter R-1 of the Revised Statutes, 1973, as it existed immediately before July 1, 1996, and shall pay off its debts and transfer its remaining assets to The New Brunswick Real Estate Association for its use.
49(3)The New Brunswick Real Estate Association shall not use or invest any money transferred to it from the Real Estate Council, or any of the interest accruing on the money, without the prior approval of the Minister.
1995, c.31, s.23