All membership fees remain the same as in 2020 with the exception of the base insurance premium for practising members which will be reduced from $1,600.00 to $1,300.00 and the Transaction Levy Fees which, effective January 1, 2021, will be:
- For real estate transactions – $30;
- For personal property transactions – $30 (reduced from $35); and
- For civil proceeding transactions – $70 (reduced from $75)
Benchers set fees for the Insurance Programme based on actuarial advice and in accordance with approved policies on premium setting. The Insurance Programme maintains equity in a Capital Pool to protect the Insurance Programme’s solvency over the long run. The Capital Pool is governed by a Premium Setting Policy which specifies that when the Capital Pool exceeds the recommended level, consideration should be given to reducing the excess over time through reduced insurance premiums. This level is reviewed every five years.
In accordance with policy, on October 2 and December 11 2020, Benchers approved the actuary’s recommendations to reduce the insurance premium from $1,600.00 to $1,300.00 and to make the above-noted changes in the Transaction Levy Fees.
Invoices will be sent via email the week of January 4, 2021 and, unless payment is via instalment, fees are due January 31, 2021. The first remittance for Q1 reflecting the levy fee changes will be due April 30, 2021.
Professional Law Corporation Annual Renewal Fees
The annual renewal fee will remain at $230.00 (tax incl.). Invoices, along with form 11.03B, Certified Statement of Disclosure, will be sent the week of January 4, 2021. Form 11.03B and the annual renewal fees are due January 15, 2021.
*** Please note that we are hoping to offer e-transfer as a payment option for 2021 membership fees; further details on this will be circulated as they become available.