California Codes, Business and Professions Code - BPC, Division 4 — Real Estate, Part 1 — Licensing of Persons, Chapter 6.5 — Real Estate Recovery Program, Section 10470

If, on June 30 of any year, the balance remaining in the Consumer Recovery Account in the Real Estate Fund is less than two hundred thousand dollars ($200,000), every licensed broker, when obtaining or renewing any broker license within four years thereafter, shall pay, in addition to the license fee, a fee of seven dollars ($7); every licensed salesperson, when obtaining or renewing such license within four years thereafter, shall pay, in addition to the license fee, a fee of four dollars ($4); and every person holding a prepaid rental listing service license, when obtaining or renewing that license within two years thereafter, shall pay, in addition to the application fee, a fee of one dollar ($1). The fees from the broker, salesperson, and prepaid rental listing service licensees shall be paid into the State Treasury and credited to the Consumer Recovery Account.

Notes

Requires added fees when the Consumer Recovery Account balance is below $200,000 on June 30: brokers obtaining or renewing licenses within four years must pay $7, salespersons within four years must pay $4, and prepaid rental listing service licensees within two years must pay $1. The added fees are credited to the Consumer Recovery Account.

Use as reference

Lexinter.net | California Code, Business and Professions Code - BPC § 10470 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-4/part-1/chapter-6-5/section-10470

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