§ 11232. — 11232. (Amended by Stats. 2024, Ch. 41, Sec. 18.)

California § 11232.

• Jurisdiction: California
• Code BPC: Business and Professions Code - BPC
• Div. 4.: DIVISION 4. REAL ESTATE
• Part 2.: PART 2. REGULATION OF TRANSACTIONS
• Ch. 2.: CHAPTER 2. The Vacation Ownership and Time-Share Act of 2004
• Art. 2.: ARTICLE 2. Registration, Sale Requirements, and Fees

Text

(a)
The commissioner may by regulation prescribe filing fees in connection with applications to the Department of Real Estate for a public report pursuant to the provisions of this chapter that are lower than the maximum fees specified in subdivision (b) if the commissioner determines that the lower fees are sufficient to offset the costs and expenses incurred in the administration of this chapter. The commissioner shall hold at least one hearing each calendar year to determine if lower fees than those specified in subdivision (b) should be prescribed. At this hearing, the department shall report on the financial status of the department, including the revenues, expenditures, and reserves as of the end of the previous fiscal year. The department shall post a hearing notice 15 days in advance of the hearing that includes the
required information about the financial status of the department.
(b)
The filing fees for an application for a public report to be issued under authority of this chapter shall be set at the amount prescribed below and shall not exceed the maximum specified for each time-share plan, location, or phase of the time-share plan in which interests are to be offered for sale or lease:
(1)
Two thousand five hundred dollars ($2,500), not to exceed three thousand two hundred fifty dollars ($3,250), plus fifteen dollars ($15), not to exceed twenty dollars ($20), for each time-share interest to be offered for an original public report application.
(2)
One thousand five hundred dollars ($1,500), not to exceed one thousand nine hundred fifty dollars ($1,950), plus fifteen dollars ($15), not to exceed twenty dollars ($20), for
each time-share plan interest to be offered that was not permitted to be offered under the public report to be renewed for a renewal public report or permit application.
(3)
One thousand five hundred dollars ($1,500), not to exceed one thousand nine hundred fifty dollars ($1,950), plus fifteen dollars ($15), not to exceed twenty dollars ($20), for each time-share interest to be offered under the amended public report for which a fee has not previously been paid for an amended public report application.
(4)
One thousand dollars ($1,000), not to exceed one thousand three hundred dollars ($1,300), for a conditional public report application.
(5)
Five hundred dollars ($500), not to exceed six hundred fifty dollars ($650), for a preliminary public report application.
(c)
Fees collected by the commissioner under authority of this chapter shall be deposited into the Real Estate Fund pursuant to Chapter 6 (commencing with Section 10450) of Part 1. Fees received by the commissioner pursuant to this article shall be deemed earned upon receipt. A fee is not refundable unless the commissioner determines that it was paid as a result of mistake or inadvertency. This section shall remain in effect unless it is superseded pursuant to Section 10226 or subdivision (a) of Section 10226.5, whichever is applicable.

Legislative History

Amended by Stats. 2024, Ch. 41, Sec. 18. (SB 164) Effective June 29, 2024.