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2020 California Code
Business and Professions Code - BPC
DIVISION 4 - REAL ESTATE
PART 1 - LICENSING OF PERSONS
CHAPTER 6.5 - Real Estate Recovery Program
Section 10470.1.
Universal Citation: CA Bus & Prof Code § 10470.1 (2020)
10470.1.
(a) In addition to the amount paid into the Consumer Recovery Account as set forth in Section 10450.6, the Real Estate Commissioner may authorize the transfer from the Real Estate Fund to the Consumer Recovery Account of any amounts as are deemed necessary.
(b) If the balance remaining in the Consumer Recovery Account contains more than four hundred thousand dollars ($400,000), the commissioner may authorize the transfer of all or part of the surplus amount into the Real Estate Fund.
(c) The commissioner may authorize the return to the Consumer Recovery Account of all or any amount previously transferred to the Real Estate Fund under this section.
(Amended by Stats. 2011, Ch. 712, Sec. 17. (SB 706) Effective January 1, 2012.)
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