CHAPTER 6.5. Real Estate Recovery Program
Chapter 6.5 added by Stats. 1985, Ch. 690, Sec. 3.
§§ 10470–10481 · 22 sections
- § 10470 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…
- § 10470.1 (a) In addition to the amount paid into the Consumer Recovery Account as set forth in Section 10450.6, the Real Estate Commissioner may authorize the transfer…
- § 10471 (a) When an aggrieved person obtains (1) a final judgment in a court of competent jurisdiction, including, but not limited to, a criminal restitution order…
- § 10471.1 (a) The claimant shall serve a copy of the notice prescribed in subdivision (e) together with a copy of the application upon the judgment debtor by personal…
- § 10471.2 (a) If the commissioner determines that the application as submitted by the claimant fails to comply substantially with the requirements of Section 10471 or…
- § 10471.3 (a) The commissioner shall render a final written decision on the application within 90 days after a completed application has been received unless the…
- § 10471.4 (a) In its consideration and investigation of an application, the department shall have recourse to all appropriate means of investigation and discovery…
- § 10471.5 (a) The commissioner shall give notice of a decision rendered with respect to the application to the claimant and to a judgment debtor who has filed a timely…
- § 10471.6 If, at any time prior to the rendering of a decision on an application, the commissioner makes a preliminary determination that the aggregate valid…
- § 10472 (a) A claimant against whom the commissioner has rendered a decision denying an application pursuant to Section 10471 may, within six months after the mailing…
- § 10472.1 (a) The commissioner and the judgment debtor shall each have 30 days after being served with the application in which to file a written response. The court…
- § 10473 Whenever the court proceeds upon an application under Section 10472, it shall order payment out of the Consumer Recovery Account only upon a determination that…
- § 10473.1 The judgment debtor may defend an action against the Consumer Recovery Account on their own behalf and shall have recourse to all appropriate means of defense…
- § 10474 Notwithstanding any other provision of this chapter and regardless of the number of persons aggrieved or parcels of real estate involved in a transaction or…
- § 10474.5 If the amount of liability of the Consumer Recovery Account as provided for in Section 10474 is insufficient to pay in full the valid claims of all aggrieved…
- § 10475 Should the commissioner pay from the Consumer Recovery Account any amount in settlement of a claim or toward satisfaction of a judgment against a licensed…
- § 10476 If, at any time, the money deposited in the Consumer Recovery Account is insufficient to satisfy any duly authorized claim or portion thereof, the commissioner…
- § 10477 Any sums received by the commissioner pursuant to any provisions of this chapter shall be deposited in the State Treasury and credited to the Consumer Recovery…
- § 10478 It shall be unlawful for any person or the agent of any person to file with the commissioner any notice, statement, or other document required under the…
- § 10479 When, the commissioner has paid from the Consumer Recovery Account any sum to the judgment creditor, the commissioner shall be subrogated to all of the rights…
- § 10480 The failure of an aggrieved person to comply with all of the provisions of this chapter shall constitute a waiver of any rights hereunder.
- § 10481 Nothing in this chapter limits the authority of the commissioner to take disciplinary action against any licensee for a violation of the Real Estate Law, or of…