California Business and Professions Code 10470 – If, on June 30 of any year, the balance remaining in the Consumer …
If, on June 30 of any year, the balance remaining in the Consumer Recovery Account in the Real Estate Fund is less than two hundred thousand dollars ($200,000), every licensed broker, when obtaining or renewing any broker license within four years thereafter, shall pay, in addition to the license fee, a fee of seven dollars ($7); every licensed salesperson, when obtaining or renewing such license within four years thereafter, shall pay, in addition to the license fee, a fee of four dollars ($4); and every person holding a prepaid rental listing service license, when obtaining or renewing that license within two years thereafter, shall pay, in addition to the application fee, a fee of one dollar ($1). The fees from the broker, salesperson, and prepaid rental listing service licensees shall be paid into the State Treasury and credited to the Consumer Recovery Account.
(Amended by Stats. 2013, Ch. 436, Sec. 6. (SB 269) Effective January 1, 2014.)
Terms Used In California Business and Professions Code 10470
- 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
- listing: as used in this part includes, but is not limited to:
California Business and Professions Code 10027
- Recovery Account: shall be deemed to refer to the Consumer Recovery Account. See California Business and Professions Code 10450.6
- 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
- State: means the State of California, unless applied to the different parts of the United States. See California Business and Professions Code 21