CHAPTER 3. Real Estate Regulations
Chapter 3 added by Stats. 1943, Ch. 127.
§§ 10130–10249.93 · 231 sections
ARTICLE 1. Scope of Regulation §§ 10130–10149 · 43 sections
- § 10130 It is unlawful for any person to engage in the business of, act in the capacity of, advertise as, or assume to act as a real estate broker or a real estate…
- § 10131 A real estate broker within the meaning of this part is a person who, for a compensation or in expectation of a compensation, regardless of the form or time of…
- § 10131.01 (a) Subdivision (b) of Section 10131 does not apply to (1) the manager of a hotel, motel, auto and trailer park, to the resident manager of an apartment…
- § 10131.1 (a) A real estate broker within the meaning of this part is also a person who engages as a principal in the business of making loans or buying from, selling…
- § 10131.2 A real estate broker within the meaning of this part is also a person who engages in the business of claiming, demanding, charging, receiving, collecting or…
- § 10131.3 A real estate broker within the meaning of this part is also a person who, for another or others, for compensation or in expectation of compensation, issues or…
- § 10131.4 A real estate broker within the meaning of this part is also a person who acts for another or others for compensation or in expectation of compensation, to do…
- § 10131.45 A real estate broker within the meaning of this part is also a person who engages in the following businesses as a principal: (a) Except as provided in…
- § 10131.5 A nonresident of California may become a real estate broker by conforming to all of the provisions of this part.
- § 10131.6 (a) Notwithstanding any other provision of law, a person licensed as a real estate broker may sell or offer to sell, buy or offer to buy, solicit prospective…
- § 10131.7 It is unlawful for any real estate licensee acting under authority of Section 10131.6 to do any of the following: (a) To advertise or offer for sale in any…
- § 10133 (a) The acts described in Section 10131 are not acts for which a real estate license is required if performed by: (1) A regular officer of a corporation or a…
- § 10133.1 (a) Subdivisions (d) and (e) of Section 10131, Section 10131.1, Article 5 (commencing with Section 10230), and Article 7 (commencing with Section 10240) of…
- § 10133.15 The provisions of Article 5 (commencing with Section 10230) and Article 7 (commencing with Section 10240) do not apply to any person whose business is that of…
- § 10133.2 The provisions of Sections 10016, 10131, 10131.1, and 10132 do not apply to any stenographer, bookkeeper, receptionist, telephone operator, or other clerical…
- § 10133.3 The provisions of Sections 10131 and 10131.2 relating to business opportunities do not apply to any person, partnership, corporation, or other legal entity…
- § 10133.35 A real estate broker’s license shall not be required to engage in any of the following activities with respect to a mineral, oil, or gas property: (a) To act…
- § 10133.4 (a) The provisions of subdivision (b) of Section 10131 do not apply to persons acting in the capacity of a film location representative in connection with a…
- § 10133.45 (a) Subdivisions (a) and (b) of Section 10131 do not apply to persons acting in the capacity of an outdoor advertising representative in connection with a…
- § 10133.5 The provisions of Article 5 (commencing with Section 10230) do not apply to any person who is an approved lender, mortgagee, seller, or servicer for the…
- § 10135 When a lease or leasing is referred to in this article, it includes any lease, whether such lease is the sole transaction involved, or the principal or an…
- § 10136 No person engaged in the business or acting in the capacity of a real estate broker or a real estate salesperson within this state shall bring or maintain any…
- § 10137 It is unlawful for any licensed real estate broker to retain, compensate, directly or indirectly, any person for performing any of the acts within the scope of…
- § 10137.1 Nothing contained in this division shall preclude a partnership from performing acts for which a real estate broker license is required, provided every partner…
- § 10138 It is a misdemeanor, punishable by a fine of not exceeding one hundred dollars ($100) for each offense, for any person, whether obligor, escrowholder or…
- § 10139 Any person acting as a real estate broker, real estate salesperson, or mortgage loan originator without a license or license endorsement, or who advertises…
- § 10140 Every officer, agent or employee of any company, and every other person who knowingly authorizes, directs or aids in the publication, advertisement,…
- § 10140.5 Each advertisement or other statement which is published by a real estate broker or salesperson offering to assist persons to file applications for the…
- § 10140.6 (a) A real estate licensee shall not publish, circulate, distribute, or cause to be published, circulated, or distributed in any newspaper or periodical, or by…
- § 10140.8 (a) (1) A real estate broker or salesperson, or person acting on their behalf, who includes a digitally altered image in an advertisement or other promotional…
- § 10141 Within one month after the closing of a transaction in which title to real property or in the sale of a business when real or personal property is conveyed…
- § 10141.5 Within one week after the closing of a transaction negotiated by a real estate broker in which title to real property is conveyed from a seller to a purchaser…
- § 10141.6 (a) A real estate broker who engages in escrow activities for five or more transactions in a calendar year pursuant to the exemption from the Escrow Law…
- § 10142 When a licensee prepares or has prepared an agreement authorizing or retaining that licensee to perform any of the acts for which he or she is required to hold…
- § 10143.5 Any real estate broker who assists another or others, or whose real estate salespersons assist another or others, for a compensation, in filing an application…
- § 10144 The commissioner may prescribe by regulation the information which shall be contained in contracts or other agreements by a real estate licensee to assist…
- § 10145 (a) (1) A real estate broker who accepts funds belonging to others in connection with a transaction subject to this part shall deposit all those funds that are…
- § 10146 Any real estate broker who contracts for or collects an advance fee from any other person, hereinafter referred to as the “principal,” shall deposit any such…
- § 10147 (a) On or before January 1, 1993, the Alfred E. Alquist Seismic Safety Commission shall develop, adopt, and publish a Commercial Property Owner’s Guide to…
- § 10147.5 (a) Any printed or form agreement that initially establishes, or is intended to establish, or alters the terms of any agreement that previously established a…
- § 10147.6 (a) Any licensee who negotiates, attempts to negotiate, arranges, attempts to arrange, or otherwise offers to perform a mortgage loan modification or other…
- § 10148 (a) A licensed real estate broker shall retain for three years copies of all listings, deposit receipts, canceled checks, trust records, and other documents…
- § 10149 (a) The Alfred E. Alquist Seismic Safety Commission shall develop, adopt, and publish a Homeowner’s Guide to Earthquake Safety for distribution to licensees…
ARTICLE 2. Licenses §§ 10150–10165.1 · 36 sections
- § 10150 (a) Application for the real estate broker license examination shall be made in writing to the commissioner. The commissioner may prescribe the format and…
- § 10150.6 (a) In addition to satisfying the other requirements of this article, and except as provided in subdivisions (b) and (c), an applicant for an original real…
- § 10151 (a) Application for the real estate salesperson license examination shall be made in writing to the commissioner. The commissioner may prescribe the format and…
- § 10151.2 (a) For purposes of this section, “member of the Armed Forces of the United States” includes the following persons and no others: all members of the United…
- § 10151.3 The Department of Real Estate shall compile information on military, veteran, and spouse licensure into an annual report for the Legislature, which shall be…
- § 10151.5 (a) An applicant who is not a resident of this state shall be eligible for a real estate license provided (1) the applicant qualifies for licensure under this…
- § 10152 (a) The commissioner may require any other proof he or she may deem advisable concerning the honesty and truthfulness of an applicant for a real estate license…
- § 10152.5 (a) Pursuant to subdivision (u) of Section 11105 of the Penal Code, the department shall submit to the Department of Justice fingerprint images and related…
- § 10153 In addition to the proof of honesty and truthfulness required of any applicant for a real estate license, the commissioner shall ascertain by written…
- § 10153.01 (a) No person shall cheat on, subvert, or attempt to subvert a licensing examination given by the department. Cheating on, subverting, or attempting to subvert…
- § 10153.1 It is unlawful for any person with respect to any examination under this part to practice any deception or fraud with regard to his or her identity in…
- § 10153.2 (a) An applicant to take the examination for an original real estate broker license shall also submit evidence, satisfactory to the commissioner, of successful…
- § 10153.3 (a) Licenses that were suspended pursuant to former Section 10153.4, as it read on December 31, 2025, and for which the current license status remains…
- § 10153.5 As used in Sections 10151 and 10153.2, “an equivalent course of study” consists of courses at a private vocational school that have been found by the…
- § 10153.6 All real estate broker licenses issued by the commissioner shall be for a period of four years. Applicants shall qualify in the appropriate examination and…
- § 10153.7 All real estate salesperson licenses issued by the commissioner shall be for a period of four years. Applicants must qualify in the appropriate examination and…
- § 10153.8 When an applicant for a real estate license fails the qualifying examination, the applicant may apply for reexamination by filing the appropriate application…
- § 10156.2 An application on the form prescribed by the commissioner for the renewal of a license, filed before midnight of the last day of the period for which a…
- § 10156.5 The commissioner may issue a restricted license to a person: (a) Who is or has been licensed under this chapter and who has been found by the commissioner…
- § 10156.6 A restricted license issued pursuant to Section 10156.5 as the commissioner in their discretion finds advisable in the public interest may be restricted: (a)…
- § 10156.7 (a) A restricted license issued pursuant to Section 10156.5 does not confer any property right in the privileges to be exercised thereunder, and the holder of…
- § 10156.8 As one of the conditions to the issuance of a restricted license authorized by Section 10156.5 the commissioner may require the filing of surety bonds in such…
- § 10157 No real estate license gives authority to do any act specified in this chapter to any person, other than the person to whom the license is issued.
- § 10158 When a real estate license is issued to a corporation, if it desires any of its officers other than the officer designated by it pursuant to Section 10211, to…
- § 10159 Each officer of a corporation through whom it is licensed to act as a real estate broker need not be a licensed real estate broker, but if not, is authorized…
- § 10159.2 (a) The officer designated by a corporate broker licensee pursuant to Section 10211 shall be responsible for the supervision and control of the activities…
- § 10159.5 (a) (1) Every person applying for a license under this chapter who desires to have the license issued under a fictitious business name shall file with the…
- § 10159.6 All of the following apply to use of a team name, as defined in paragraph (3) of subdivision (a) of Section 10159.7: (a) Notwithstanding subdivision (b) of…
- § 10159.7 (a) For the purposes of this article, the following definitions shall apply: (1) “Fictitious business name” means a professional identity or brand name under…
- § 10161.5 When the holder of a real estate broker’s or salesperson’s license is required to relinquish his or her license to assume an office in local, state, or federal…
- § 10161.8 (a) The commissioner shall specify the manner in which a responsible broker shall provide notice to the commissioner of an affiliation with a real estate…
- § 10162 (a) Every licensed real estate broker shall have and maintain a definite place of business in the State of California that serves as the broker’s office for…
- § 10163 If the applicant for a real estate broker’s license maintains more than one place of business within the State he shall apply for and procure an additional…
- § 10164 (a) A responsible broker or corporate designated broker officer may appoint a licensee as a manager of a branch office or division of the responsible broker’s…
- § 10165 For a violation of Section 10161.8, 10162, 10163, or subdivision (b) of Section 10164, the commissioner may temporarily suspend or permanently revoke the…
- § 10165.1 This article does not require the department to post or publish electronic mail addresses or telephone numbers collected pursuant to Section 10150, 10151, or…
ARTICLE 2.1. Secure and Fair Enforcement for Mortgage Licenses §§ 10166.01–10166.17 · 18 sections
- § 10166.01 For purposes of this article, the following definitions shall apply: (a) “SAFE Act” means the federal Secure and Fair Enforcement for Mortgage Licensing Act of…
- § 10166.02 (a) A real estate broker who acts pursuant to Section 10131.1 or subdivision (d) or (e) of Section 10131, and who makes, arranges, or services loans secured by…
- § 10166.03 (a) A loan processor or underwriter who does not represent to the public, through advertising or other means of communicating or providing information,…
- § 10166.04 (a) In connection with an application to the commissioner for a license endorsement as a mortgage loan originator, every applicant shall furnish to the…
- § 10166.05 Notwithstanding any other provision of law, the commissioner shall not issue a license endorsement to act as a mortgage loan originator to an applicant unless…
- § 10166.051 In addition to any penalties authorized by regulations adopted pursuant to Section 10166.15, the commissioner may do one or more of the following, after…
- § 10166.06 (a) In addition to the requirements of Section 10153, an applicant for a license endorsement as a mortgage loan originator shall complete at least 20 hours of…
- § 10166.07 (a) A real estate broker who acts pursuant to Section 10131.1 or subdivision (d) or (e) of Section 10131, and who makes, arranges, or services one or more…
- § 10166.08 Each mortgage loan originator shall submit reports of condition to the Nationwide Multistate Licensing System and Registry reports of condition, and those…
- § 10166.09 The minimum standards for renewal of an endorsement as a mortgage loan originator shall include the following: (a) The mortgage loan originator continues to…
- § 10166.10 (a) A mortgage loan originator shall complete at least eight hours of continuing education annually, which shall include at least three hours relating to…
- § 10166.11 (a) A real estate broker who acts pursuant to Section 10131.1 or subdivision (d) or (e) of Section 10131 and who makes, arranges, or services loans secured by…
- § 10166.12 (a) As often as the commissioner deems necessary and appropriate, the commissioner shall examine the affairs of each real estate broker who is required to…
- § 10166.13 A real estate broker who acts pursuant to Section 10131.1 or subdivision (d) or (e) of Section 10131 and who makes, arranges, or services loans secured by real…
- § 10166.14 A real estate broker shall notify the department when he or she is no longer subject to this part. If a broker has already made reports required by Sections…
- § 10166.15 (a) The commissioner shall regularly report violations of this article, as well as enforcement actions taken against any mortgage loan originator to whom an…
- § 10166.16 (a) Except as otherwise provided in Section 1512 of the SAFE Act, the requirements under any federal or state law regarding the privacy or confidentiality of…
- § 10166.17 In addition to any other duties imposed upon the commissioner by law, the commissioner shall require mortgage loan originators to be licensed and registered…
ARTICLE 2.3. Prepaid Rental Listing Service §§ 10167–10167.17 · 20 sections
- § 10167 The definitions used in this section shall govern the construction and terms as used in this article: (a) “Prepaid rental listing service” means the business…
- § 10167.1 This article shall not apply to a newspaper of general circulation.
- § 10167.2 (a) It is unlawful for any person to engage in the business of a prepaid rental listing service unless licensed in that capacity or unless licensed as a real…
- § 10167.3 (a) A separate application for a license as a prepaid rental listing service shall be made in writing for each location to be operated by a licensee other than…
- § 10167.4 The commissioner may require such proof as they may deem advisable concerning the honesty and truthfulness of (a) any applicant for a license as a prepaid…
- § 10167.45 (a) Pursuant to subdivision (u) of Section 11105 of the Penal Code, the department shall submit to the Department of Justice fingerprint images and related…
- § 10167.5 The business at a location licensed pursuant to subdivision (a) of Section 10167.3 shall be conducted under the immediate supervision of the licensee or a…
- § 10167.6 Every applicant for a prepaid rental listing service license who is not a resident of this state shall file with the application for a license an irrevocable…
- § 10167.7 Except as provided in Section 10167.8, each licensee shall provide to the department, and at all times maintain in force, a bond in the amount of ten thousand…
- § 10167.8 The requirement of Section 10167.7 shall not apply to any prepaid rental listing service operated by: (a) a person exempt from the payment of federal and state…
- § 10167.9 (a) Prior to the acceptance of a fee, a licensee shall offer the prospective tenant a written contract, either on paper or in electronic form, which shall…
- § 10167.95 Prior to the acceptance of a fee, and in addition to the contract required pursuant to Section 10167.9, a licensee shall provide the prospective tenant with…
- § 10167.10 (a) (1) A licensee shall refund in full the fee paid by a prospective tenant if the licensee does not, within five days after execution of the contract, supply…
- § 10167.11 It shall be a violation of this article for any licensee or any employee or agent of a licensee to do the following: (a) Make, or cause to be made, any false,…
- § 10167.12 (a) The commissioner may suspend, deny, or revoke the license of a licensee or the license of the licensee to operate at one or more locations for either of…
- § 10167.13 A prepaid rental listing service license issued by the department shall be for a period of two years. An application and fee for renewal filed with the…
- § 10167.14 Whenever any person has engaged or threatens to engage in any acts or practices which constitute, or will constitute a violation of a provision of the article,…
- § 10167.15 Any person, including an officer, director, or employee of a corporation who willfully violates any provision of this article is guilty of a misdemeanor.
- § 10167.16 A person or corporation licensed pursuant to this article and not engaging in acts for which a real estate license is required under Article 1 (commencing with…
- § 10167.17 The commissioner shall, by regulation, make prepaid rental listing service licensees and applicants for prepaid rental listing service licenses subject to the…
ARTICLE 2.5. Continuing Education §§ 10170–10171.5 · 10 sections
- § 10170 The Legislature has determined that it is in the public interest of consumer protection and consumer service that all real estate licensees licensed under the…
- § 10170.2 The commissioner may appoint a committee comprised of licensees under this part and persons with expertise in real estate education to advise him with respect…
- § 10170.4 The commissioner shall adopt regulations pursuant to Section 10080, to prescribe all of the following: (a) A definition of basic requirements for continuing…
- § 10170.5 (a) Except as otherwise provided in Section 10170.8, a real estate license shall not be renewed unless the commissioner finds that the applicant for license…
- § 10170.6 The commissioner may amend or repeal any regulation adopted pursuant to this article in the same manner as provided for adoption of such regulations, except…
- § 10170.8 (a) This article shall not apply to a real estate licensee who submits proof satisfactory to the commissioner that the real estate licensee has been a real…
- § 10171.2 If an applicant for a license has submitted, in good faith, evidence of completion of continuing education which he had reason to believe would qualify him for…
- § 10171.3 On and after January 1, 1981, a real estate license, which has been revoked as the result of disciplinary action by the commissioner, shall not be reinstated,…
- § 10171.4 Any licensee who applies for renewal of his or her license under Section 10461, or for reinstatement of his or her license under Section 10161.5 or 10463,…
- § 10171.5 A person who is licensed as a real estate broker only as an officer of a corporate broker pursuant to Section 10158 or 10211 shall not be eligible for the…
ARTICLE 3. Disciplinary Action §§ 10175–10186.9 · 21 sections
- § 10175 Upon grounds provided in this article and the other articles of this chapter, the license of any real estate licensee may be revoked or suspended in accordance…
- § 10175.2 (a) If the Real Estate Commissioner determines that the public interest and public welfare will be adequately served by permitting a real estate licensee to…
- § 10176 The commissioner may, upon his or her own motion, and shall, upon the verified complaint in writing of any person, investigate the actions of any person…
- § 10176.1 (a) (1) Whenever the commissioner takes any enforcement or disciplinary action against a licensee, and the enforcement or disciplinary action is related to…
- § 10176.5 (a) The commissioner may, upon his or her own motion, and shall upon receiving a verified complaint in writing from any person, investigate an alleged…
- § 10177 The commissioner may suspend or revoke the license of a real estate licensee, delay the renewal of a license of a real estate licensee, or deny the issuance of…
- § 10177.1 The commissioner may, without a hearing, suspend the license of any person who procured the issuance of the license to himself by fraud, misrepresentation,…
- § 10177.2 The commissioner may, upon his or her own motion, and shall, upon the verified complaint in writing of any person, investigate the actions of any licensee, and…
- § 10177.3 (a) No licensee shall knowingly or intentionally misrepresent the value of real property. (b) No licensee that offers or provides an opinion of value of…
- § 10177.4 (a) Notwithstanding any other provision of law, the commissioner may, after hearing in accordance with this part relating to hearings, suspend or revoke the…
- § 10177.5 When a final judgment is obtained in a civil action against any real estate licensee upon grounds of fraud, misrepresentation, or deceit with reference to any…
- § 10177.6 When an agent undertakes to arrange financing in connection with a sale, lease, or exchange of real property, or when a person or entity arranging financing in…
- § 10178 When any real estate salesperson is discharged by his or her responsible broker for a violation of any of the provisions of this article prescribing a ground…
- § 10179 No violation of any of the provisions of this part relating to real estate or of Chapter 1 (commencing with Section 11000) of Part 2 of this division by any…
- § 10180 The commissioner may deny, suspend or revoke the real estate license of a corporation as to any officer or agent acting under its license without revoking the…
- § 10182 As a condition to the reinstatement of a revoked or suspended license, the commissioner may require the applicant to take and pass a qualifying examination.
- § 10185 Any person, including officers, directors, agents or employees of corporations, who willfully violates or knowingly participates in the violation of this…
- § 10186 (a) Following an administrative proceeding, or in connection with a stipulation, when the commissioner grants the right to a license applicant or a licensee to…
- § 10186.1 (a) A license or an endorsement of the department shall be suspended automatically during any time that the licensee is incarcerated after conviction of a…
- § 10186.2 (a) (1) A licensee shall report any of the following to the department: (A) The bringing of a criminal complaint, information, or indictment charging a felony…
- § 10186.9 Notwithstanding any other provision of law, on and after January 1, 2015, the department shall be subject to review by the appropriate policy committees of the…
ARTICLE 4. Fees §§ 10200–10227 · 20 sections
- § 10200 All real estate license fees shall be payable in advance of issuing the licenses and at the time of filing the application. Unless otherwise provided, all…
- § 10201 The holder of a license who fails to renew it prior to the expiration of the period for which it was issued and who has otherwise qualified for such license,…
- § 10201.6 Any person who has qualified in an examination for a real estate license shall file the required application and fee for the license within one year thereafter.
- § 10202 The definitions contained in this article are solely for the purposes of this article.
- § 10207 The amount of the real estate fees prescribed for an examination or for a license under this chapter is that fixed by the following provisions of this article.…
- § 10208.5 The real estate broker license examination fee is one hundred fifty dollars ($150), not to exceed one hundred ninety-five dollars ($195). The real estate…
- § 10209 (a) The commissioner shall, by regulation, establish fees for applications for approval of equivalent courses of study as defined in Section 10153.5 in an…
- § 10209.2 The commissioner shall, by regulation, establish fees for applications for approval of educational courses, seminars, workshops, conference, or their…
- § 10209.5 The fee for a restricted broker license shall be the same as that for an unrestricted license as provided in Section 10210.
- § 10210 (a) The fee for a real estate broker license shall be four hundred fifty dollars ($450), not to exceed five hundred eighty-five dollars ($585). In the case of…
- § 10211 If the licensee is a corporation, the license issued to it entitles one officer thereof, on behalf of the corporation, to engage in the business of real estate…
- § 10213.5 The real estate salesperson license examination fee shall be one hundred dollars ($100), not to exceed one hundred thirty dollars ($130). The real estate…
- § 10213.6 If an applicant for any examination fails to take the examination on the date scheduled, they may make application in writing to the principal office of the…
- § 10214.5 The fee for a restricted salesperson license shall be the same as that for an unrestricted license as provided in Section 10215.
- § 10215 (a) The fee for a real estate salesperson license shall be three hundred fifty dollars ($350), not to exceed four hundred fifty-five dollars ($455). In the…
- § 10222 For any examination required under any order issued pursuant to the provisions of the Administrative Procedure Act, the fee shall be the same as for a…
- § 10225 An application for a permit to sell real property securities secured by liens on real property situated outside the State of California shall be accompanied by…
- § 10226 (a) The commissioner may periodically by regulation prescribe fees lower than the maximum fees provided in Sections 10209.5, 10210, 10214.5, 10215, and 10250.3…
- § 10226.5 (a) If at any time funds are transferred or loaned from the Real Estate Fund to the General Fund by the Budget Act, then 30 days from and after the date of the…
- § 10227 (a) Beginning January 1, 2025, before submitting a regulatory fee increase proposal to the Office of Administrative Law for initial publication, the department…
ARTICLE 5. Transactions in Trust Deeds and Real Property Sales Contracts §§ 10230–10236.7 · 27 sections
- § 10230 (a) The provisions of this article do not apply to the negotiation of a loan by or on behalf of a real estate broker in connection with a qualifying sale or…
- § 10231 Except as authorized by permit issued pursuant to the applicable provisions of the Corporate Securities Law of 1968 (Section 25000 et seq. of the Corporations…
- § 10231.1 No person in doing any of the acts set forth in subdivision (d) of Section 10131, subdivision (e) of Section 10131, and Section 10131.1 shall, as agent or…
- § 10231.2 (a) A real estate broker who, through express or implied representations that the broker or any salesperson acting on the broker’s behalf is engaging in acts…
- § 10232 (a) Except as otherwise expressly provided, Sections 10232.2, 10232.25, 10233, and 10236.6 are applicable to every real estate broker who intends or reasonably…
- § 10232.1 (a) A real estate broker, prior to the use of any proposed advertisement in connection with the conduct of activities described in subdivisions (d) and (e) of…
- § 10232.2 A real estate broker who meets the criteria of subdivision (a) of Section 10232 shall annually file the reports referred to in subdivisions (a) and (c) with…
- § 10232.25 (a) A real estate broker who meets the criteria of subdivision (a) of Section 10232 shall, within 30 days after the end of each of the first three fiscal…
- § 10232.3 (a) Any transaction that involves the sale of or offer to sell a note secured directly by an interest in one or more parcels of real property or the sale of an…
- § 10232.4 (a) In making a solicitation to a particular person and in negotiating with that person to make a loan secured by real property or to purchase a real property…
- § 10232.45 (a) Any broker subject to the provisions of Section 10232.3 or Article 6 (commencing with Section 10237) shall make reasonable efforts to ensure all of the…
- § 10232.5 (a) If the real estate broker is performing acts described in subdivision (d) of Section 10131 in negotiating a loan to be secured by a lien on real property…
- § 10232.6 (a) A real estate broker, acting within the course and scope of his or her license, who arranges for or engages the services of an appraiser licensed or…
- § 10233 A real estate licensee who undertakes to service a promissory note secured directly or collaterally by a lien on real property or a real property sales…
- § 10233.1 If a real estate broker in servicing a real property sales contract or a promissory note secured directly or collaterally by a lien on real property for the…
- § 10233.2 For the purposes of Division 3 (commencing with Section 3101) and Division 9 (commencing with Section 9101) of the Commercial Code, when a broker, acting…
- § 10234 (a) Except as provided in subdivision (d), every real estate licensee who negotiates a loan secured by a trust deed on real property shall cause the trust deed…
- § 10234.5 In addition to the requirements of Section 10234, in the placing of any loan, a broker shall deliver or cause to be delivered conformed copies of any deed of…
- § 10235 No real estate licensee shall knowingly advertise, print, display, publish, distribute, telecast or broadcast, or cause or permit to be advertised, printed,…
- § 10235.5 (a) A real estate licensee or mortgage loan originator shall not place an advertisement disseminated primarily in this state for a loan unless there is…
- § 10236 The commissioner in his or her discretion may honor requests from interested persons for interpretive opinions with respect to any provision of this article or…
- § 10236.1 No real estate licensee shall advertise to give or to offer to give to a prospective purchaser or lender any premium, gift or any other object of value as an…
- § 10236.2 (a) A real estate broker who satisfies the criteria of subdivision (a) or (b) of Section 10232 and who fails to notify the Department of Real Estate, in…
- § 10236.4 (a) In compliance with Section 10235.5, every licensed real estate broker shall also display their license number on all advertisements where there is a…
- § 10236.5 A real estate broker shall notify the department when he or she is no longer servicing or arranging loans subject to the reporting requirements of Section…
- § 10236.6 (a) The commissioner, in his or her discretion, may audit any broker who conducts transactions subject to the provisions of this article. The audit shall be…
- § 10236.7 (a) A real estate broker, when engaging in acts for which a license is required, who arranges a transaction pursuant to Article 6 (commencing with Section…
ARTICLE 6. Claim of Exemption From Securities Qualification §§ 10237–10239.3 · 6 sections
- § 10237 This article applies only to the exemption from securities qualification claimed under Section 25102.5 of the Corporations Code. This article does not apply to…
- § 10238 (a) A notice in the following form and containing the following information shall be filed with the commissioner within 30 days after the first transaction and…
- § 10239 The jurisdiction of the Commissioner of Financial Protection and Innovation under the Corporate Securities Law of 1968 shall be neither limited nor expanded by…
- § 10239.1 Nothing in this article shall be construed to change the agency relationships between the parties where they exist or limit in any manner the fiduciary duty of…
- § 10239.2 For the purposes of this article, the following definitions shall apply: (a) “Broker” means a person licensed as a broker under this part. (b) “Affiliate”…
- § 10239.3 (a) If any person other than a real estate broker makes or keeps any of the books, accounts, or other records maintained in connection with a transaction…
ARTICLE 7. Real Property Loans §§ 10240–10248.3 · 22 sections
- § 10240 (a) Every real estate broker, upon acting within the meaning of subdivision (d) of Section 10131, who negotiates a loan to be secured directly or collaterally…
- § 10240.1 The provisions of this article, exclusive of the provisions of Section 10240, apply only to loans secured by a dwelling.
- § 10240.2 As used in this article, “ dwelling” means any of the following units which are owned by a signatory to the mortgage or deed of trust secured by the dwelling…
- § 10240.3 (a) The commissioner shall apply the guidance on nontraditional mortgage product risks published on November 14, 2006, by the Conference of State Bank…
- § 10241 The statement required by Section 10240, the form of which shall be approved by the commissioner, shall set forth separately the following items: (a) The…
- § 10241.1 (a) The purchase of credit life insurance on the life of the borrower or credit disability insurance to provide indemnity for payments becoming due on the…
- § 10241.2 If the broker elects to make a loan subject to Section 10240 which consists wholly or in part of broker-controlled funds as defined in subdivision (j) of…
- § 10241.3 In any loan transaction in which a fee is charged to a borrower for an appraisal of the real property that will serve as security for the loan, a copy of the…
- § 10241.4 (a) Prior to a borrower becoming obligated on any loan secured by a dwelling that provides for a balloon payment and is otherwise subject to Section 10240, if…
- § 10242 The maximum amount of expenses, charges and interest to be paid by a borrower with respect to any loan subject to this article shall be as follows: (a) The…
- § 10242.5 (a) A charge imposed for late payment of an installment due on a loan secured by a mortgage or deed of trust on real property shall not exceed an amount equal…
- § 10242.6 (a) The principal and accrued interest on any loan secured by a mortgage or deed of trust on real property containing only a single-family, owner-occupied…
- § 10243 If the loan is not consummated due to the failure of the borrower to disclose the outstanding liens of record or the correct current vested title which is…
- § 10244 Any loan made by any person and secured directly by a lien on real property, other than a note given back to the seller by the purchaser on account of the…
- § 10244.1 Notwithstanding the provisions of Section 10244, on a loan secured directly or collaterally by a lien on real property comprising an owner-occupied dwelling,…
- § 10245 The provisions of this article, exclusive of the provisions of Sections 10240, 10240.3, 10242.5, and 10242.6, do not apply to any bona fide loan secured…
- § 10246 If any amount: (a) In excess of the charges referred to in Section 10241 and limited by Section 10242, (b) In excess of the charges permitted by Section…
- § 10247 The provisions of this article pertaining to maximum costs and expenses, charges and interest, together with the penalties stated in this article, shall apply…
- § 10248 Every person who, for compensation to be received directly or indirectly, sells, offers to sell, purchases for resale or offers to purchase for resale, or who…
- § 10248.1 No real estate licensee shall charge, receive, or negotiate for the payment by the borrower of any service charge or fee other than charges and fees specified…
- § 10248.2 (a) A borrower may not waive any right or remedy under this article. This subdivision shall not be deemed to prohibit a bona fide settlement, release or…
- § 10248.3 The provisions of this article shall apply only to those loans otherwise subject to this article which are made or negotiated by real estate brokers acting…
ARTICLE 8. Out-of-State Land Promotions §§ 10249–10249.93 · 8 sections
- § 10249 (a) A person acting as a principal or agent who intends, in this state, to sell or lease or offer for sale or lease lots, parcels, or interests in a…
- § 10249.1 “Subdivision,” as used in Section 10249, includes all of the following: (a) Improved or unimproved land or lands divided or proposed to be divided for the…
- § 10249.3 (a) The commissioner may by regulation prescribe filing fees in connection with registrations with the department pursuant to the provisions of this article…
- § 10249.8 (a) Notwithstanding any provision to the contrary in Section 10249 or 11000, it is unlawful for a person, in this state, to sell or lease or offer for sale or…
- § 10249.9 (a) Notwithstanding any provision to the contrary in Section 10249 or 11000, it is unlawful for a person, in this state, to sell or lease or offer for sale or…
- § 10249.91 The term of a registration issued pursuant to this article shall be one year, unless the commissioner by regulation prescribes a longer term.
- § 10249.92 A registration application pursuant to the provisions of this article shall be accompanied by an irrevocable consent stating that if in any action commenced…
- § 10249.93 (a) If the commissioner finds, based on available evidence, that a person is violating any provision of this article or a regulation of the commissioner…