Sections
22 entriesSection 10470Requires added fees when the Consumer Recovery Account balance is below $200,000 on June 30: brokers obtaining or renewing licenses within four…Section 10470.1Allows the Real Estate Commissioner to transfer from the Real Estate Fund to the Consumer Recovery Account any amounts deemed necessary in…Section 10471Allows an aggrieved person with a qualifying final judgment or confirmed arbitration judgment for specified fraud, deceit, misrepresentation, or trust-fund conversion in…Section 10471.1Requires a Recovery Account claimant to serve the application and prescribed notice on the judgment debtor by authorized personal service, certified mail,…Section 10471.2Requires the commissioner, when a Consumer Recovery Account application is not substantially compliant, to mail the claimant an itemized deficiency list within…Section 10471.3Requires a final written decision on a completed Consumer Recovery Account application within 90 days unless the claimant agrees in writing to…Section 10471.4Allows the department, when considering and investigating a Consumer Recovery Account application, to use all appropriate investigation and discovery methods available under…Section 10471.5Requires the commissioner to notify the claimant and any timely responding judgment debtor of a Recovery Account application decision and to include…Section 10471.6Requires the commissioner, before deciding a Recovery Account application, to start a superior-court proration proceeding instead of continuing administrative proceedings if the…Section 10472Allows a claimant whose Recovery Account application was denied by the commissioner to file a verified superior-court application within six months after…Section 10472.1Requires the commissioner and judgment debtor each to respond within 30 days after service; the court then sets a hearing and must…Section 10473Limits court-ordered Recovery Account payment to cases where the court finds a valid qualifying cause of action and compliance with the court-application…Section 10473.1Allows a judgment debtor to defend a proceeding against the Consumer Recovery Account using all appropriate defenses and review methods, including examining…Section 10474Limits Consumer Recovery Account liability, generally, to $20,000 per transaction and $100,000 per licensee for causes arising on or after January 1,…Section 10474.5Requires insufficient Consumer Recovery Account liability available for valid claims against one licensee to be distributed proportionally to claim amounts or in…Section 10475Requires automatic license suspension when the commissioner pays a Consumer Recovery Account claim or judgment against a broker, salesperson, or prepaid-rental-listing licensee…Section 10476Requires the commissioner, when the Consumer Recovery Account lacks enough money to pay an authorized claim or portion, to pay the unpaid…Section 10477Requires every sum the commissioner receives under any provision of this chapter to be deposited in the State Treasury and credited to…Section 10478Prohibits any person or agent from filing with the commissioner a notice, statement, or other document required by the chapter that is…Section 10479Requires, after the commissioner pays a judgment creditor from the Consumer Recovery Account, that the commissioner be subrogated to all rights of…Section 10480Establishes that an aggrieved person who fails to comply with all provisions of this chapter waives the rights provided under the chapter.…Section 10481Establishes that the chapter does not limit the commissioner’s authority to discipline a licensee for violating the Real Estate Law, specified subdivision…