California Codes, Business and Professions Code - BPC, Division 4 — Real Estate, Part 3 — Licensing and Certification of Real Estate Appraisers, Chapter 8 — Real Estate Appraisers Regulation Fund, Section 11411
There shall be separate accounts in the Real Estate Appraisers Regulation Fund for purposes of administration and for purposes of recovery. These accounts shall be known respectively as the Administration Account and the Recovery Account. On and after January 1, 2026, 5 percent of the amount of any license or certificate fee collected in the 2024–25 fiscal year shall be transferred to the Recovery Account. On and after January 1, 2026, 5 percent of any license or certificate fee collected under this part shall be credited to the Recovery Account. The Recovery Account is a continuing appropriation for carrying out this chapter.
Notes
Establishes separate Administration and Recovery Accounts within the Real Estate Appraisers Regulation Fund and makes the Recovery Account a continuing appropriation for the chapter. Requires, beginning January 1, 2026, transfer to the Recovery Account of 5 percent of qualifying 2024–25 license or certificate fees and crediting 5 percent of future license or certificate fees collected under the part.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 11411 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-4/part-3/chapter-8/section-11411