Real Estate Brokerage Management Act Article 8

The bond of operation in the third paragraph of preceding article shall be deposited in the special account of bond opened in the financial institution named by the National Association of Brokering or Sales Agency of R.O.C. A committee of management shall be organized to keep in charge of the account. The fruits generated by the bond shall be spent on a sound development of the real estate brokerage system.The members of the committee of management in the preceding paragraph are to be chosen out of brokerage agencies. The number of the brokers acting as committee members shall not exceed two-fifths of the total number of the committee members. The central competent authority shall make the organization of the committee and the regulations for the management of the bond of the committee.Unless this act specifies otherwise, the bond shall not be spent under no circumstances other than Article 26(4).If the bond of a brokerage agency pays respectively are below the amount specified by Article 7(3), National Association of Brokering or Sales Agency of R.O.C. shall inform that the brokerage agency shall make up the payment within a month.