California § 7507.115. 7507.115. (Amended by Stats. 2015, Ch. 740, Sec. 6.)

California Statutes

§ 7507.115. — 7507.115. (Amended by Stats. 2015, Ch. 740, Sec. 6.)

California § 7507.115.

JurisdictionCalifornia

Code BPCBusiness and Professions Code - BPC

Div. 3.DIVISION 3. PROFESSIONS AND VOCATIONS GENERALLY

Ch. 11.CHAPTER 11. Repossessors

Art. 8.ARTICLE 8. Conduct of Business

This text of California § 7507.115. (7507.115. (Amended by Stats. 2015, Ch. 740, Sec. 6.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Business and Professions Code - BPC Code § 7507.115. (2026).

Text

(a)A licensee shall not appraise or determine the value of any collateral, whether damaged or not.

(b)

(1)Notwithstanding subdivision (a), a licensee may complete a condition report that makes a general assessment of the collateral.

(2)A condition report does not include all damage or missing parts.

(3)A condition report shall include the following statement: “In accordance with Section 7507.115 of the Business and Professions Code, this condition report is a general assessment of the collateral and does not include all damage or missing parts.”

Free access — add to your briefcase to read the full text and ask questions with AI

(a)
A licensee shall not appraise or determine the value of any collateral, whether damaged or not.
(b)
(1)
Notwithstanding subdivision (a), a licensee may complete a condition report that makes a general assessment of the collateral.
(2)
A condition report does not include all damage or missing parts.
(3)
A condition report shall include the following statement: “In accordance with Section 7507.115 of the Business and Professions Code, this condition report is a general assessment of the collateral and does not include all damage or
missing parts.”