California Business and Professions Code 10010.5 – (a) Nothing in Assembly Bill 1289 of the 2017-18 Regular Session …
(a) Nothing in Assembly Bill 1289 of the 2017-18 Regular Session or Assembly Bill 2884 of the 2017-18 Regular Session shall be construed to affect any of the following:
(1) A real estate broker’s duties under existing statutory or common law as an agent of a person who retains that broker to perform acts for which a license is required under this division.
Terms Used In California Business and Professions Code 10010.5
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Contract: A legal written agreement that becomes binding when signed.
- Fiduciary: A trustee, executor, or administrator.
- license: means license, certificate, registration, or other means to engage in a business or profession regulated by this code or referred to in Section 1000 or 3600. See California Business and Professions Code 23.7
- Oversight: Committee review of the activities of a Federal agency or program.
- Salesperson: when used without modification, means a person licensed as a salesperson under any of the provisions of this part. See California Business and Professions Code 10013
(2) Any fiduciary duties owed by a real estate broker to a person who retains that broker to perform acts for which a license is required under this division.
(3) Any duty of disclosure or any other duties or obligations of a real estate broker that arise under this division or other existing applicable California law, including common law.
(4) Any duties or obligations of a salesperson or a broker associate that arise under this division or existing applicable California law, including common law, including duties and obligations to the salesperson’s or broker associate’s responsible broker.
(5) A responsible broker’s duty of supervision and oversight for the acts of retained salespersons or broker associates that arise under this division or other existing applicable California law, including common law.
(b) (1) The Legislature finds and declares that a responsible broker, as defined in Section 10015.1, has the duty to supervise and oversee the licensed acts of each salesperson and broker associate affiliated with and working under his or her supervision, regardless of whether the retention contract with that salesperson or broker associate specifies an independent contractor relationship or an employment relationship.
(2) The Legislature finds and declares that, consistent with existing statutory and common law, a responsible broker is liable for the actions or negligence of a salesperson or broker associate retained by the responsible broker to perform acts for which a license is required under this division.
(c) For purposes of this section, references to “existing statutory law” and “existing applicable California law” refer to the law as it read immediately prior to enactment of Assembly Bill 1289 of the 2017-18 Regular Session and Assembly Bill 2884 of the 2017-18 Regular Session.
(Added by Stats. 2018, Ch. 285, Sec. 2. (AB 2884) Effective January 1, 2019.)