§ 735.1. — 735.1. (Added by Stats. 1998, Ch. 475, Sec. 4.)

California § 735.1.

• Jurisdiction: California
• Code HNC: Harbors and Navigation Code - HNC
• Div. 3.: DIVISION 3. VESSELS
• Ch. 5.: CHAPTER 5. Operation and Equipment of Vessels
• Art. 2.: ARTICLE 2. Yacht and Ship Brokers

Text

A licensed broker shall retain, for four years, copies of all listings, deposit receipts, canceled checks, trust records, and other documents executed or obtained by the broker in connection with a transaction for which a broker’s license is required. These records shall be made available to the department for inspection upon request. If the records have not been made available within 30 days of a request by the department, the department may subpoena the requested records. If the records have not been made available within 14 days from the requested day of production on the subpoena, and the director determines that the public may be at risk if the broker continues to be licensed, the department may suspend the broker’s license pursuant to Section 734.

Legislative History

Added by Stats. 1998, Ch. 475, Sec. 4. Effective January 1, 1999.