The Lieutenant Governor in Council may, by order, direct that a number of provisions of the Business Corporations Act apply to the compensation fund corporation. The insurance corporation may invest any part of the insurance coverage fund, not presently required for disposition, as permitted underneath the provisions of the Trustee Act respecting the investment of belief property by a trustee. If a licensee has not paid an quantity referred to in subsection on or before the time set for cost, the licensee’s licence is suspended as of the following day. Require the person Real Estate to pay an extra penalty as much as the quantity of the remuneration accepted by the person for the real estate companies in respect of which the contravention occurred. On an software beneath this section, the courtroom could make an order for cost of the money into court, and fee into courtroom under the order discharges the brokerage from legal responsibility for the amount paid.
- A real estate dealer is answerable for the supervision and conduct of the actual estate brokerage business.
- In order to schedule your examination, you have to have an eAccessNY account.
- According to a model new housing market forecast by Central