DIVISION 20.5. EXCHANGE FACILITATORS [51000. - 51013.]
Division 20.5 added by Stats. 2008, Ch. 708, Sec. 2.
§§ 51000–51013 · 8 sections
- § 51000 As used in this division, the following terms shall have the following meanings: (a) “Client” means the taxpayer with whom the exchange facilitator enters into…
- § 51001 (a) A person who engages in business as an exchange facilitator shall notify all existing exchange clients whose relinquished property is located in this…
- § 51003 (a) A person who engages in business as an exchange facilitator shall at all times comply with one or more of the following: (1) Maintain a fidelity bond or…
- § 51005 Any person claiming to have sustained damage by reason of the failure of a person engaging in business as an exchange facilitator to comply with this division…
- § 51007 (a) A person who engages in business as an exchange facilitator shall at all times comply with either of the following: (1) Maintain a policy of errors and…
- § 51009 (a) A person who engages in business as an exchange facilitator shall have the responsibility to act as a custodian for all exchange funds, including, but not…
- § 51011 A person engaged in business as an exchange facilitator shall not do any of the following: (a) Make any material misrepresentations concerning any like-kind…
- § 51013 A person who violates this division is subject to civil suit in a court of competent jurisdiction.