California CodesBusiness and Professions Code - BPCDivision 8 — Special Business RegulationsChapter 5 — The Gambling Control ActArticle 7 — Restrictions on Certain TransactionsSection 19903
When any person contracts to sell or lease any property or interest in property, real or personal, under circumstances that require the approval or licensing of the purchaser or lessee by the commission pursuant to subdivision (a) of Section 19853, the contract shall contain a provision satisfactory to the commission regarding responsibility for the payment of any fees due pursuant to any subsequent deficiency determinations made under this chapter that shall encompass any period of time before the closing date of the transaction.
Notes
Requires a property sale or lease contract, when the purchaser or lessee needs commission approval or licensing, to contain a commission-satisfactory provision assigning responsibility for fees due from later deficiency determinations. The provision must cover any period before the transaction's closing date.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 19903 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-8/chapter-5/article-7/section-19903