California CodesBusiness and Professions Code - BPCDivision 4 — Real EstatePart 3 — Licensing and Certification of Real Estate AppraisersChapter 8 — Real Estate Appraisers Regulation FundSection 11412.2

(a) In addition to the amount paid into the Recovery Account as set forth in Section 11411, the director may authorize a transfer from the Administration Account to the Recovery Account of any amount deemed necessary.

(b) If the balance remaining in the Recovery Account contains more than four hundred thousand dollars ($400,000), the director may authorize the transfer of all or part of the surplus amount to the Administration Account.

(c) The director may authorize the return to the Recovery Account of all or any amount previously transferred to the Administration Account under this section.

Notes

Allows the director to transfer any amount deemed necessary from the Administration Account to the Recovery Account in addition to required Recovery Account funding. If the Recovery Account exceeds $400,000, the director may transfer all or part of the surplus to the Administration Account and may later return any amount previously transferred under this provision.

Use as reference

Lexinter.net | California Code, Business and Professions Code - BPC § 11412.2 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-4/part-3/chapter-8/section-11412-2

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