California CodesBusiness and Professions Code - BPCDivision 4 — Real EstatePart 1 — Licensing of PersonsChapter 3 — Real Estate RegulationsArticle 5 — Transactions in Trust Deeds and Real Property Sales ContractsSection 10236.5
A real estate broker shall notify the department when he or she is no longer servicing or arranging loans subject to the reporting requirements of Section 10232. If a broker has already made reports required by this article within the year, he or she shall continue reports for that year, but shall notify the department prior to the expiration of that year that he or she will no longer be servicing or arranging loans for which reports are required. The department’s records, including those which may be disclosed by calling the license information telephone number of the department, may then be appropriately updated.
Notes
Requires a broker to notify the department when the broker stops servicing or arranging loans subject to the cited reporting requirements. If reports were already made during the year, reporting must continue for that year, with notice before year-end that reportable servicing or arranging will cease; the department may then update its records and telephone information.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 10236.5 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-4/part-1/chapter-3/article-5/section-10236-5