A)
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Brokerage Application for Registration as a Corporation
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A corporation may apply for and obtain registration as a brokerage in its corporate name or a business name. In its application for registration as a brokerage, a corporation shall state:
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(i)
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the name of the official of the corporation who will be accountable to the Commission for the brokerage;
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(ii)
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the name of the individual to be designated by the corporation as the broker and include that individual's application for registration as a broker;
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(iii)
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the name of the individual to be designated by the corporation as a branch manager for each of its branch offices, if any, and include those individuals' applications for registration as branch managers; and
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(iv)
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where the corporation intends to carry on business under a business name, its business name.
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Any change in the name of the corporation or, where applicable, its business name, suspends the corporation's registration.
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B)
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Brokerage Application for Registration as a Partnership
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A firm may apply for and obtain registration as a brokerage in its business name. In its application for registration as a brokerage, a firm shall state:
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(i)
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its business name;
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(ii)
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in the case of:
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a sole proprietor, the name of the sole proprietor; or
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a partnership, the names of the partners;
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(iii)
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the name of the individual to be designated by the firm as the broker and include that individual's application for registration as a broker; and
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(iv)
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the name of the individual to be designated by the firm as a branch manager for each of its branch offices, if any, and include those individuals' applications for registration as branch managers.
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The broker designated pursuant to clause (iii) above:
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(i)
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in the case of a sole proprietor, shall be the sole proprietor;
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(ii)
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in the case of a partnership where all partners are individuals, shall be one of the partners;
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(iii)
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in the case of a partnership where one or more partners are individuals and one or more are corporations, shall be a partner who is an individual;
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(iv)
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in the case of a partnership where all partners are corporations, shall be an individual.
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An applicant for registration as a brokerage that is a partnership where all the partners are corporations shall designate an official of the firm who will be accountable to the Commission for the brokerage.
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Any change in the membership or ownership of a firm or in its business name suspends the firm's registration.
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C)
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Brokerage Application for Registration as a Sole Proprietor
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(i)
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A sole proprietor may apply for and obtain registration as a brokerage in his or her name.
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(ii)
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The sole proprietor shall be the broker for his or her brokerage.
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(iii)
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A certificate of registration that is granted to a sole proprietor is to be granted in the name of the sole proprietor as the person carrying on business and is to indicate on it or attachments to it the name of the broker.
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(iv)
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Any change in the ownership of a sole proprietorship suspends its registration.
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D)
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Broker/Branch Manager Registration
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An individual may apply for and obtain registration as a broker or a branch manager where that individual:
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has successfully completed the educational requirements prescribed in the bylaws or equivalent education as approved by the SREC; and
either:
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(i)
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has been actively employed as a salesperson, associate broker, broker or branch manager for a period of two years during the preceding five years; or
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(ii)
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has related experience that, in the opinion of the Commission, is equivalent to the experience described in subclause (i).
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In the submission of the Brokerage/Broker Application for Registration, the following additional documentation and fees must accompany the application(s):
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(b)
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The Real Estate Assurance Fund was established to serve the public interest by providing financial protection to any member of the public for a deficiency in the money held in trust by a brokerage in connection with a trade in real estate.
The fund shall not pay any broker, branch manager, associate broker or salesperson, who has suffered a loss as a result of a trade in real estate nor any person whose claim is for commission, compensation for services or payment for goods.
Pursuant to Section 47(2)(a) of the Act and Bylaws 403, 403.1 and 404, the Commission levies an assessment as follows:
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(i)
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Every brokerage making application for renewal of registration shall be assessed a fund levy of $10.00 for each broker, branch manager, associate broker or salesperson registered with the brokerage.
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(ii)
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When an individual is making an initial application for registration as a broker, branch manager, associate broker or salesperson representing a brokerage, the brokerage shall be assessed a levy of $100.00.
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(iii)
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Subject to ByLaw 316, the fund levy for an applicant for a brokerage registration not currently registered and an applicant for renewal of a brokerage registration after June 30th, shall be $100.00.
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(c)
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A copy of the Certificate of Incorporation and/or proof of registration of the partnership with the Corporations Branch must be provided. In addition, a copy of the acknowledgement from the Corporations Branch that the applicant's business name is properly registered must be provided to the Saskatchewan Real Estate Commission.
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(d)
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Pursuant to Section 30(1) of The Real Estate Act, the Commission shall not grant registration to a brokerage unless it maintains an office in Saskatchewan that is satisfactory to the Commission and from which the brokerage conducts its business. The Saskatchewan Real Estate Commission will accept the location of a brokerage's office provided that it is complying with the regulations; bylaws and zoning requirements of the municipality it is located in and the municipal bylaws permit the access of salespeople and consumers to this office location. The Commission must be supplied with a copy of the documentation from the city/town/municipality approving the office location of the brokerage.
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E)
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Associate Broker or Salesperson Registration
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(1)
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An individual may apply for and obtain registration as an associate broker or salesperson only where that individual has successfully completed the educational requirements prescribed in the bylaws or equivalent education as approved by the Saskatchewan Real Estate Commission.
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(2)
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An applicant for registration as an associate broker or salesperson shall forward to the Commission, with his or her application for registration, a notice signed by a broker stating that the applicant, if granted registration, is authorized to act as a salesperson representing the brokerage.
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(3)
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A certificate of registration granted to an associate broker or salesperson is to include the name of the brokerage mentioned in subsection (2) that the salesperson represents.
The applicant must complete the form entitled Branch Manager, Associate Broker or Salesperson Registration Application in its entirety prior to the applicant signing the affidavit in the presence of a Commission for Oaths, Notary Public or Solicitor. Page two of the application contains a section to be completed by the broker of the brokerage. Please see the fees as outlined on the Registration Fee Schedule.
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