CHAPTER 8. Real Estate Appraisers Regulation Fund [11410. - 11420.]
Chapter 8 added by Stats. 1990, Ch. 491, Sec. 1.
§§ 11410–11420 · 34 sections
- § 11410 The Real Estate Appraisers Regulation Fund is hereby created in the State Treasury to consist of moneys raised by fees and assessments imposed pursuant to this…
- § 11411 There shall be separate accounts in the Real Estate Appraisers Regulation Fund for purposes of administration and for purposes of recovery. These accounts…
- § 11411.5 As used in this chapter, the following definitions apply: (a) “Application” means an application for payment from the Recovery Account filed with the bureau…
- § 11412 (a) On or before January 1, 2002, the director shall determine the number of complaint cases containing judicial findings of fraud that may be eligible for…
- § 11412.2 (a) In addition to the amount paid into the Recovery Account as set forth in Section 11411, the director may authorize a transfer from the Administration…
- § 11413 (a) (1) When an aggrieved person obtains either (A) a final judgment in a court of competent jurisdiction, including, but not limited to, a criminal…
- § 11413.1 (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…
- § 11413.2 (a) For all applications and documents submitted electronically to the bureau, the claimant or claimant’s attorney shall submit the application and supporting…
- § 11413.3 (a) The response by a judgment debtor shall contain a verification that a copy of the response was sent to the claimant or, if the claimant is represented by…
- § 11413.4 (a) A judgment debtor who has filed a response objecting to payment to a claimant from the Recovery Account may submit a written argument setting forth in…
- § 11414 (a) If the bureau determines that the application as submitted by the claimant fails to comply substantially with the requirements of Section 11413 or with the…
- § 11414.1 (a) An application for payment from the Recovery Account shall be made on a form prescribed by the bureau, shall contain the items specified by subdivision (c)…
- § 11414.2 Except as provided in Section 11414.1, an application for payment from the Recovery Account is “substantially complete” within the meaning of subdivision (b)…
- § 11415 (a) The bureau shall render a final written decision on the application within 180 days after a completed application has been received unless the claimant…
- § 11415.1 (a) If the bureau mailed one or more itemized lists of deficiencies to a claimant as provided by subdivision (a) of Section 11414, and if, after an…
- § 11416 (a) In its consideration and investigation of an application, the bureau shall have recourse to all appropriate means of investigation and discovery available…
- § 11417 (a) The bureau shall give notice of a decision rendered with respect to the application to the claimant and to a judgment debtor pursuant to Section 11413.1.…
- § 11417.1 (a) If the decision of the bureau is to make a payment out of the Recovery Account and the judgment debtor files a writ of mandamus as provided in subdivision…
- § 11417.2 If, at any time prior to the rendering of a decision on an application, the bureau makes a preliminary determination that the aggregate valid applications of…
- § 11417.3 (a) A claimant against whom the bureau has rendered a decision denying an application pursuant to Section 11413 may, within six months after the mailing of the…
- § 11417.4 After initial service of the application on the bureau and the judgment debtor by the claimant as provided by subdivision (b) of Sections 11413 and…
- § 11417.5 (a) The bureau and the judgment debtor shall each have 30 days after being served with the application in which to file a written response. The court shall…
- § 11417.6 (a) Whenever the court proceeds upon an application under Section 11417.3, it shall order payment out of the Recovery Account only upon a determination that…
- § 11417.7 The judgment debtor may defend an action against the Recovery Account on their own behalf and shall have recourse to all appropriate means of defense and…
- § 11418 Notwithstanding any other provision of this chapter and regardless of the number of persons aggrieved or real estate appraisals involved in a transaction or…
- § 11418.1 If the amount of liability of the Recovery Account as provided for in Section 11418 is insufficient to pay in full the valid claims of all aggrieved persons by…
- § 11418.2 If the bureau pays from the Recovery Account any amount in settlement of a claim or toward satisfaction of a judgment against a licensed appraiser, the license…
- § 11418.3 If, at any time, the money deposited in the Recovery Account is insufficient to satisfy any authorized claim or portion thereof, the bureau shall, when…
- § 11418.4 Any sums received by the bureau pursuant to any provisions of this chapter shall be deposited in the State Treasury and credited to the Recovery Account.
- § 11419 A person or the agent of any person shall not file with the bureau any notice, statement, or other document required under this chapter that is false or untrue…
- § 11419.1 When the bureau has paid from the Recovery Account any sum to the judgment creditor, the bureau shall be subrogated to all of the rights of the judgment…
- § 11419.2 The failure of an aggrieved person to comply with this chapter shall constitute a waiver of any rights hereunder.
- § 11419.3 Nothing in this chapter limits the authority of the bureau to take disciplinary action against a licensee for a violation of this part or of the rules and…
- § 11420 This chapter shall remain in effect only until January 1, 2030, and as of that date is repealed.