California Codes, Business and Professions Code - BPC, Division 4 — Real Estate, Part 1 — Licensing of Persons, Chapter 3 — Real Estate Regulations, Article 7 — Real Property Loans, Section 10241.3
In any loan transaction in which a fee is charged to a borrower for an appraisal of the real property that will serve as security for the loan, a copy of the appraisal report shall be given by or on behalf of the broker to both the borrower and the lender at or before the closing of the loan transaction.
Notes
Requires a broker, or someone acting on the broker’s behalf, to give both the borrower and lender a copy of an appraisal report whenever the borrower is charged a fee for an appraisal of the real property securing the loan. Delivery must occur at or before closing of the loan transaction.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 10241.3 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-4/part-1/chapter-3/article-7/section-10241-3