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LIMITED LIABILITY PARTNERSHIP _LLP_ PROFESSIONAL LIABILITY

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LIMITED LIABILITY PARTNERSHIP _LLP_ PROFESSIONAL LIABILITY Powered By Docstoc
					                                                                          LIMITED LIABILITY PARTNERSHIP (LLP)
                                                                PROFESSIONAL LIABILITY INSURANCE DECLARATION
In accordance with S.82(4)(b) of the Partnership Act (Alberta) R.S.A. 2000 c.P-3, application to the government for registration as an
Alberta LLP must be accompanied by a statement from the governing body (ICAA) certifying that the partners of the LLP are covered by
liability insurance or other protection against professional liability in the form and amount that is required under the Regulated Accounting
Profession Act (RAPA).

 LLP Applicant - Firm Name:                                                                   City:                            Alberta LLP

 LLP Applicant - Alberta LLP Registered Office Information:                                                                    Extra-provincial LLP

         Address:



         Telephone:                                                        Fax:

 Alberta firm locations covered by this declaration [firm names must be same as above - please note location of the office(s)]

                          ________________________________                                                                ______

                          ________________________________                                                                ______


 LLP APPLICANT DECLARATION: - EVERY point within the declaration must be acknowledged as true ( )
 I, (full name, please print) _________________________________, declare the following:
 □     I am a member in good standing with the Institute of Chartered Accountants of Alberta.
 □     I am authorized to make this declaration on behalf of the Office.
 □     The head office and any additional offices noted above are each registered with the ICAA and are in good standing.
 □     For the office(s) noted above, professional liability insurance coverage or other protection (details to be provided in a separate
       submission) is in place sufficient to comply with the requirements of Chartered Accountant Regulation under RAPA.
 □     I will provide additional information to the Registration Committee, as may be requested for consideration with this declaration.
 □     The Registration Committee has permission to obtain information from other sources, as felt appropriate for consideration with this
       declaration.
 □     I will promptly advise the ICAA Registrar and the Partnership Act Registrar of any change(s) in circumstances precluding
       continuation of LLP status of any of the above noted offices.
 □     I request that the Partnership Act Registrar be advised that the professional liability insurance or other protection is in place.
 □     List of the LLP partners (including designation, ie. CA, CMA, CGA) has been provided (on reverse).
 □     The prescribed $__________ fee [i.e. $135.00 plus GST x ____ number of Alberta partners = $ _______ ] relating to
       establishing the LLP is enclosed. (GST – R10708533)

 STATUTORY DECLARATION:
 I do solemnly declare that:
       a) All information given herein is true, to the best of my knowledge and belief, and that
       b) I am familiar with the provisions of the Regulated Account Profession Act and with the Regulations, By-laws and Rules of
           Professional Conduct of the Institute of Chartered Accountants of Alberta, and
       c) I consent and shall be deemed to have consented to any notification, publication or release of information in accordance with
           the legislative authorities.
 I make this solemn declaration conscientiously believing it to be true and knowing that it is of the same force and effect as if made
 under oath and by virtue of the Canada Evidence Act.

 Declared before me at the City of ____________________________________

 in the province of ___________________________ this __________________

 day of ________________________________________, _________________                           Signature of Applicant __________________________________



 Signed and sealed _________________________________________________

 A commissioner for oaths or notary public in and for the Province of _____________________                                                     (Over)
                                                                                                                     07\F\04\LLP_PLI_declaration-PFM.doc
LIST OF LLP PARTNERS:




LLP Insurance Requirements (Chartered Accountants Regulation)


29(1) For the purpose of registration as an Alberta limited liability partnership or an extra-provincial limited liability
      partnership under Part 2.1 of the Partnership Act, the applicant must provide satisfactory evidence to the registrar
      that the partnership carries professional liability insurance in an amount not less than

      (a)   $1,500,000 per incident for partnerships with fewer than 4 chartered accountants or professional corporations
            engaged in the partnership’s practice, and
      (b)   $2,000,000 per incident for partnerships with 4 or more chartered accountants or professional corporations
            engaged in the partnership’s practice.

   (2) Notwithstanding subsection (1), a letter of credit, bond or other protection against professional liability may be
       substituted for professional liability insurance if it is

      (a)   in an amount not less than the professional liability insurance that would be required under subsection (1),
            and
      (b)   in a form approved by, and otherwise acceptable to, the registration committee.

   (3) A partnership referred to in subsection (1) must provide annually to the registrar satisfactory evidence of continued
       compliance with subsection (1) or (2).



                                      Institute of Chartered Accountants of Alberta
                                                     580 Manulife Place
                                                     10180 - 101 Street
                                                   Edmonton, AB T5J 4R2

                                              Phone: (780) 424-7391 (Edmonton)
                                                       1-800-232-9406 (Toll Free)
                                              Fax:     (780) 421-0671
                                              Web site: www.albertaCAs.ca

				
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