§ 10470.1. — 10470.1. (Amended by Stats. 2011, Ch. 712, Sec. 17.)

California § 10470.1.

• Jurisdiction: California
• Code BPC: Business and Professions Code - BPC
• Div. 4.: DIVISION 4. REAL ESTATE
• Part 1.: PART 1. LICENSING OF PERSONS
• Ch. 6.5.: CHAPTER 6.5. Real Estate Recovery Program

Text

(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 from the Real Estate Fund to the Consumer Recovery Account of any amounts as are deemed necessary.
(b)
If the balance remaining in the Consumer Recovery Account contains more than four hundred thousand dollars ($400,000), the commissioner may authorize the transfer of all or part of the surplus amount into the Real Estate Fund.
(c)
The commissioner may authorize the return to the Consumer Recovery Account of all or any amount previously transferred to the Real
Estate Fund under this section.

Legislative History

Amended by Stats. 2011, Ch. 712, Sec. 17. (SB 706) Effective January 1, 2012.