In February this year, we circulated the e-lert below discussing
upcoming amendments to the Alberta Guarantees Acknowledgement
Act by Bill 44: Notaries and Commissioners Act and the new
requirements to have an individual guarantor appear before a lawyer
who is an active member of the Law Society instead of a notary as
previously required. Bill 44 will come into force on April
30, 2015. A copy of the new form that will need to be
executed by a barrister or solicitor in this regard can be
found here.
Due to certain amendments that came into effect on December 17,
2014, the requirement that the lawyer acknowledging the guarantor
be independent from the lawyer acting for the borrower has been
removed.
It should be noted that the current requirement to have a notary is
unique to Alberta.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.