Professional Documents
Culture Documents
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Criminal Provisions
10035. Neither Section 10185 nor any other
provision of this part which makes violation of
this part a crime shall be construed to preclude
application of any other criminal provision of
the law of this state to an act or omission which
constitutes a violation of this part.
CHAPTER 2. ADMINISTRATION
Article 1. The Real Estate Commissioner
Chief Officer of Department of Real Estate
10050. There is in the Business and
Transportation Agency a Department of Real
Estate, the chief officer of which department is
named the Real Estate Commissioner.
It shall be the principal responsibility of the
commissioner to enforce all laws in this part
(commencing with Section 10000) and Chapter
1 (commencing with Section 11000) of Part 2 of
this division in a manner which achieves the
maximum protection for the purchasers of real
property and those persons dealing with real
estate licensees.
Public Protection
10050.1. Protection of the public shall be the
highest priority for the Department of Real
Estate in exercising its licensing, regulatory, and
disciplinary functions. Whenever the protection
of the public is inconsistent with other interests
sought to be promoted, the protection of the
public shall be paramount.
Appointment of Real Estate Commissioner
10051. The commissioner shall be appointed by
the Governor.
Commissioners Qualifications
10052. The commissioner shall have been for
five years a real estate broker actively engaged
in business as such in California, or shall
possess related experience associated with real
estate activity in California for five years within
the last 10 years.
Commissioners Salary
10053. The commissioner shall receive an
annual salary as provided in Chapter 6
(commencing with Section 11550) of Part 1 of
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Oaths
10076. Each deputy shall, after his appointment,
take and subscribe to the constitutional oath of
office and file the same in the office of the
Secretary of State.
Main and Branch Offices
10077. The commissioner shall have his
principal office in the City of Sacramento, and
may establish branch offices in the City and
County of San Francisco, the City of Los
Angeles and in such other cities as the
commissioner may deem necessary, subject to
the approval of the Department of Finance.
Seal
10078. The commissioner shall adopt a seal with
the words Real Estate Commissioner State of
California and such other device as the
commissioner may desire engraved thereon, by
which he shall authenticate the proceedings of
his office.
Copies of all records and papers in the office of
the commissioner certified under the hand and
seal of the commissioner shall be received in
evidence in all cases equally and with like effect
as the originals.
Legal Advisor
10079. (a) The Attorney General shall render to
the commissioner opinions upon all questions of
law relating to the construction or interpretation
of this part or Chapter 1 of Part 2 or arising in
the administration thereof that may be submitted
to him or her by the commissioner. Except as
provided in subdivision (b), the Attorney
General shall act as the attorney for the
commissioner in all actions and proceedings
brought by or against him or her under or
pursuant to any of the provisions of this part or
of Chapter 1 of Part 2.
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Article 3. Hearings
Disciplinary Procedure
10100. (a) Before suspending or revoking a
license or license endorsement issued under the
provisions of this part, the department shall
proceed as prescribed by Chapter 5
(commencing with Section 11500) of Part 1 of
Division 3 of Title 2 of the Government Code,
and the department shall have all the powers
granted therein.
(b) Upon denial of an application for a license or
license endorsement issuable under the
provisions of this part, the department shall
proceed under Sections 485 to 488, inclusive.
Voluntary Surrender of License
10100.2. A licensee against whom an
investigation is pending or an accusation has
been filed pursuant to Section 11503 of the
Government
Code
may
petition
the
commissioner to voluntarily surrender his or her
license. The surrender of a license shall become
effective upon acceptance by the commissioner
and thereafter, a surrendered licensee may be
relicensed only by petitioning for reinstatement
pursuant to Section 11522 of the Government
Code. When deciding a petition for
reinstatement, the commissioner may consider
all relevant evidence, including affidavits.
Settlements
10100.4. (a) Notwithstanding Section 11415.60
of the Government Code, the department may
enter into a settlement with a licensee or
applicant instead of the issuance of an
accusation or statement of issues against that
licensee or applicant.
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Prosecution of Violations
It is the duty of the district attorney of each
county in this state to prosecute all violations of
this section in their respective counties in which
the violations occur.
Broker Defined
10131. A real estate broker within the meaning
of this part is a person who, for a compensation
or in expectation of a compensation, regardless
of the form or time of payment, does or
negotiates to do one or more of the following
acts for another or others:
(a) Sells or offers to sell, buys or offers to buy,
solicits prospective sellers or purchasers of,
solicits or obtains listings of, or negotiates the
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Nonresident Licensees
10131.5. A nonresident of California may
become a real estate broker by conforming to all
of the provisions of this part.
Broker Definition Continued Mobilehomes
10131.6. (a) Notwithstanding any other
provision of law, a person licensed as a real
estate broker may sell or offer to sell, buy or
offer to buy, solicit prospective purchasers of,
solicit or obtain listings of, or negotiate the
purchase, sale, or exchange of any mobilehome
only if the mobilehome has been registered
under Part 2 (commencing with Section 18000)
of Division 13 of the Health and Safety Code.
(b) No real estate broker who engages in the
activities authorized by this section shall
maintain any place of business where two or
more mobilehomes are displayed and offered for
sale by the person, unless the broker is also
licensed as a mobilehome dealer as provided for
by Part 2 (commencing with Section 18000) of
Division 13 of the Health and Safety Code.
(c) As used in this chapter, mobilehome
means a structure transportable in one or more
sections, designed and equipped to contain not
more than two dwelling units to be used with or
without a foundation system. Mobilehome
does not include a recreational vehicle, as
defined in Section 18010 of the Health and
Safety Code, a commercial coach, as defined in
Section 18001.8 of the Health and Safety Code,
or factory-built housing, as defined in Section
19971 of the Health and Safety Code.
(d) In order to carry out this section, the
commissioner shall prescribe by regulation, after
consultation with the Department of Housing
and Community Development, methods and
procedures to assure compliance with
requirements of the Health and Safety Code
pertaining to mobilehome registration, collection
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Mobilehome Advertising
10131.7. It is unlawful for any real estate
licensee acting under authority of Section
10131.6 to do any of the following:
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signature is obtained.
Report to Commissioner Application for
Government Land
10143.5. Any real estate broker who assists
another or others, or whose real estate salesmen
assist another or others, for a compensation, in
filing an application for the purchase or lease of,
or in locating or entering upon, lands owned by
the State or Federal Government shall report to
the commissioner the names and addresses of all
persons he or his salesmen have assisted in filing
applications for land owned by the State or
Federal Government and the amount of
compensation received from such persons. The
report shall be filed quarterly within 10 days
after the end of each calendar quarter.
Contract or Agreement Provisions
10144. The commissioner may prescribe by
regulation the information which shall be
contained in contracts or other agreements by a
real estate broker, or a real estate salesman, to
assist another or others in filing an application
for the purchase or lease of, or in locating or
entering upon, lands owned by the State or
Federal Government, including, but not limited
to, information with regard to the services
agreed to be performed and information with
regard to the hazards which may prevent the
person to be assisted in filing an application with
the State or Federal Government ever receiving
any state or federal land under the application.
Handling of Trust Funds Interest-Bearing
Accounts Neutral Escrow Defined
10145.
(a) (1) A real estate broker who accepts funds
belonging to others in connection with a
transaction subject to this part shall deposit
all those funds that are not immediately
placed into a neutral escrow depository or
into the hands of the brokers principal, into
a trust fund account maintained by the
broker in a bank or recognized depository in
this state. All funds deposited by the broker
in a trust fund account shall be maintained
there until disbursed by the broker in
accordance with instructions from the
person entitled to the funds.
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Examinations Cheating/Subversion
10153.01. (a) No person shall cheat on, subvert,
or attempt to subvert a licensing examination
given by the department. Cheating on,
subverting, or attempting to subvert a licensing
examination includes, but is not limited to,
engaging in, soliciting, or procuring any of the
following:
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loan
brokering
and
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Endorsement
10166.05. Notwithstanding any other provision
of law, the commissioner shall not issue a
license endorsement to act as a mortgage loan
originator to an applicant unless the
commissioner makes all of the following
findings:
(a) The applicant has never had a mortgage loan
originator license revoked in any governmental
jurisdiction, except that a subsequent formal
vacation of a revocation shall not be deemed a
revocation.
(b) (1) The applicant has not been convicted of,
or pled guilty or nolo contendere to, a felony
in a domestic, foreign, or military court
during the seven-year period preceding the
date of the application for licensing, or at
any time preceding the date of application, if
the felony involved an act of fraud,
dishonesty, a breach of trust, or money
laundering. Whether a particular crime is
classified as a felony shall be determined by
the law of the jurisdiction in which an
individual is convicted.
(2) For purposes of this subdivision, an
expunged or pardoned felony conviction
shall not require denial of an application.
However, the commissioner may consider
the underlying crime, facts, or circumstances
of an expunged or pardoned felony
conviction when determining the eligibility
of an applicant for licensure under this
subdivision or subdivision (c).
(c) The applicant has demonstrated such
financial responsibility, character, and general
fitness as to command the confidence of the
community and warrant a determination that the
mortgage loan originator will operate honestly,
fairly, and efficiently within the purposes of the
article.
(d) The applicant has complied with the
education and written testing requirements in
Section 10166.06.
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protection,
the
nontraditional
marketplace, and fair lending issues.
mortgage
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acceptable
monthly
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________________________________
(signature)
(3) On or after January 1, 2002, the
department may, from time to time, by
regulation, adjust the amount of the
allowable service charge to reflect the rate
of inflation from the previous date that the
amount of the allowable service charge was
established, as measured by the Consumer
Price Index or other method of measuring
the rate of inflation which the department
determines is reliable and generally
accepted.
(c) Each contract shall contain provisions that
shall read as follows unless different language
shall have been approved in writing by the
department prior to use:
RIGHT TO REFUND
(Full capital letters, in 12-point type or greater,
boldface or italicized)
IF, WITHIN FIVE DAYS AFTER PAYMENT OF
A FEE, THE LICENSEE HAS NOT SUPPLIED
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Reinstatement Examination
10182. As a condition to the reinstatement of a
revoked or suspended license, the commissioner
may require the applicant to take and pass a
qualifying examination.
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Real Estate
Commissioner
Mortgage Loan Section
2201 Broadway
Sacramento, CA 95818
City
____________________________________
State
ZIP Code
ONE
OF
THE
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Dwelling Defined
10240.2. As used in this article, dwelling
means any of the following units which are
owned by a signatory to the mortgage or deed of
trust secured by the dwelling unit at the time of
execution of the mortgage or deed of trust:
(a) A single dwelling unit in a condominium or
cooperative.
(b) Any parcel containing only residential
buildings if the total number of units on the
parcel is four or less.
Nontraditional Mortgages and Subprime
Lending
10240.3. (a) The commissioner shall apply the
guidance on nontraditional mortgage product
risks published on November 14, 2006, by the
Conference of State Bank Supervisors and the
American Association of Residential Mortgage
Regulators, and the Statement on Subprime
Mortgage Lending published on July 17, 2007,
by the aforementioned entities and the National
Association of Consumer Credit Administrators,
to real estate brokers acting within the meaning
of Section 10131.1 or subdivision (d) of Section
10131.
(b) The commissioner may adopt emergency and
final regulations to clarify the application of this
section as soon as possible.
(c) A real estate broker acting within the
meaning of Section 10131.1 or subdivision (d)
of Section 10131 shall adopt and adhere to
policies and procedures that are reasonably
intended to achieve the objectives set forth in the
documents described in subdivision (a).
Statement Content
10241. The statement required by Section
10240, the form of which shall be approved by
the commissioner, shall set forth separately the
following items:
(a) The estimated maximum costs and expenses
of making the loan, which are to be paid by the
borrower, including but not limited to, the
following:
(1) Appraisal fees.
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MORTGAGE
LOAN
DISCLOSURE
STATEMENT/GOOD FAITH ESTIMATE
FOR IMPORTANT INFORMATION ON
BALLOON PAYMENTS. ALSO, REFER
TO THE LOAN DOCUMENTS AND THIS
EXTENSION AGREEMENT FOR YOUR
SPECIFIC RIGHTS AND OBLIGATIONS.
(c) The notice shall also contain, in at least 10point boldface capitalized type, either of the
following statements depending upon which
statement best describes the nature of the
undertaking:
(1) THE LENDER OR NOTEHOLDER
HAS AGREED TO AN EXTENSION,
REFINANCING,
OR
RENEGOTIATION OF THE TERMS
OF THIS LOAN, AND THE LENDERS
OR
NOTEHOLDERS
SIGNED
AGREEMENT IS ATTACHED (OR
THE NOTICE MAY DESCRIBE THE
METHOD USED TO FURNISH THAT
SIGNED
DOCUMENT).
TRANSMISSION BY A BROKER OF A
LENDERS
OR
NOTEHOLDERS
UNDERTAKING OR THE BROKERS
REPRESENTATION
OF
THAT
UNDERTAKING, PURSUANT TO THIS
SECTION, DOES NOT OF ITSELF,
CREATE OR ALTER ANY AGENCY
OR
SIMILAR
RELATIONSHIP
BETWEEN
THE
LENDER
OR
NOTEHOLDER
AND
THE
BORROWER, OR THE LENDER OR
NOTEHOLDER AND THE BROKER.
(2) THE BROKER, ______________
(INSERT
NAME
OF
BROKER
MAKING OR ARRANGING THE
LOAN), HAS AGREED TO USE HIS OR
HER BEST EFFORTS TO OBTAIN A
FUTURE
EXTENSION,
REFINANCING,
OR
RENEGOTIATION OF THE LOAN BY
THE LENDER OR NOTE OWNER.
THERE CAN BE NO ASSURANCE OR
GUARANTEE THAT THE LENDER
OR NOTE OWNER WILL AGREE.
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Late Charges
10242.5. (a) A charge imposed for late payment
of an installment due on a loan secured by a
mortgage or deed of trust on real property shall
not exceed an amount equal to 10 percent of the
installment due, except that a minimum charge
of five dollars ($5) may be imposed when the
late charge permitted by this section would
otherwise be less than that minimum charge.
The charge permitted by this section may be
assessed only as a percentage of the increment
of any installment due that is attributable to
principal and interest.
(b) No charge may be imposed more than once
for the same late payment of an installment. No
late charge may be imposed on any installment
which is paid or tendered in full within 10 days
after its scheduled due date, even though an
earlier maturing installment or a late charge on
an earlier installment may not have been paid in
full. For purposes of this subdivision, a payment
or tender of payment made within 10 days of a
scheduled installment due date shall be deemed
to have been made or tendered for payment of
that installment.
(c) A late-payment charge may be imposed
pursuant to this subdivision for the payment of
any balloon payment more than 10 days after the
date due. The charge shall not exceed an amount
equal to the maximum late charge that could
have been assessed with respect to the largest
single monthly installment previously due, other
than the balloon payment, multiplied by the sum
of one plus the number of months occurring
since the late-payment charge began to accrue.
For purposes of this subdivision, month means
the period between a particular day of a calendar
month and the same day of the next calendar
month.
Loan Prepayment
10242.6. (a) The principal and accrued interest
on any loan secured by a mortgage or deed of
trust on real property containing only a singlefamily, owner-occupied dwelling may be
prepaid in whole or in part at any time but only a
prepayment made within seven years of the date
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(i)
The
claimant
has
not
intentionally and without good
cause failed to pursue any person
potentially liable to the claimant in
the underlying transaction other than
a defendant who is the subject of a
criminal restitution order.
(ii) The claimant has not
intentionally and without good
cause failed to pursue in a civil
action for damages all persons
potentially liable to the claimant in
the underlying transaction who
otherwise reasonably appeared
capable of responding in damages
other than a defendant who is the
subject of a criminal restitution
order.
(iii) The claimant employed no
other procedural means contrary to
the diligent prosecution of the
complaint in order to seek to qualify
for the Consumer Recovery
Account.
(6) The name and address of the judgment
debtor or, if not known, the names and
addresses of persons who may know the
judgment debtor's present whereabouts.
(7) The following representations and
information from the claimant:
(A) That he or she is not a spouse of the
judgment debtor nor a personal
representative of the spouse.
(B) That he or she has complied with all
of the requirements of this chapter.
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means
the
criminal
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Waiver of Rights
10480. The failure of an aggrieved person to
comply with all of the provisions of this chapter
shall constitute a waiver of any rights hereunder.
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Article 2. Licenses
MOG Broker Subject to Certain Real Estate
Broker Provisions But Not Continuing
Education Requirements
10515. (a) Mineral, oil, and gas brokers in
performing acts within the scope and under the
authority of this chapter are subject to the
provisions applicable to real estate brokers
contained in Sections 10153.6, 10156.2, 10157,
10159, 10159.2, 10159.5, 10161.5, 10161.75,
10162, 10163, and 10165.
(b) Mineral, oil, and gas brokers shall not be
subject to any of the provisions of Article 2
(commencing with Section 10150) or Article 2.5
(commencing with Section 10170) of Chapter 3
which
impose
continuing
education
requirements as a prerequisite to the renewal of
a license.
Restricted License
10519. (a) The commissioner may issue a
restricted mineral, oil, and gas broker license to
a person whose mineral, oil, and gas broker
license has been revoked as the result of
disciplinary action taken by the commissioner.
(b) A restricted mineral, oil, and gas broker
license issued by the commissioner may be
restricted by term and by the conditions to be
observed by the licensee in the performance of
acts for which a mineral, oil, and gas broker
license is required including the posting of a
surety bond by the restricted licensee in such
form and condition as the commissioner may
require.
Restricted License No Right to Renewal
Suspension
10519.1. There is no property right and no right
to the renewal of a restricted license issued
pursuant to Section 10519.
The commissioner may suspend a restricted
license pending the holding of a hearing on
charges alleging a basis for disciplinary action
against the restricted licensee.
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Article 5. Fees
Applicability of Broker License Provisions
10580. Mineral, oil, and gas brokers are subject
to the provisions applicable to real estate brokers
contained in Sections 10200, 10207, 10209.5,
10210, 10211, and 10222.
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Bond
(c) A bond to the State of California is furnished
to the commissioner for the benefit and
protection of purchasers or lessees of such lots
or parcels, in such amount and subject to such
terms as may be approved by the commissioner,
which shall provide for the return of the moneys
paid or advanced by any purchaser or lessee, for
or on account of the purchase or lease of any
such lot or parcel if a proper release from such
blanket encumbrance is not obtained; provided,
however, that if it should be determined that
such purchaser or lessee, by reason of default or
otherwise, is not entitled to the return of such
moneys, or any portion thereof, then such bond
shall be exonerated to the extent of the amount
of such moneys to which such purchaser or
lessee is not entitled.
Alternative Requirement
(d) There is conformance to such other
alternative requirement or method which the
commissioner may deem acceptable to carry into
effect the intent and provisions of this part.
Taxes and Assessments
11013.3. Taxes and assessments levied by public
authority shall not be considered a blanket
encumbrance within the meaning of Section
11013.
Subdivision Not Subject to Blanket
Encumbrance
11013.4. If a subdivision is not subject to a
blanket encumbrance, as defined in Section
11013, it is unlawful for the owner, subdivider,
or agent to sell or lease lots or parcels within a
subdivision unless one of the following
conditions is complied with:
Escrow
(a) The entire sum of money paid or advanced
by the purchaser or lessee of any lot or parcel, or
such portion thereof as the commissioner
determines is sufficient to protect the interest of
the purchaser or lessee, is deposited into an
escrow
depository
acceptable
to
the
commissioner or into a trust account acceptable
to the commissioner to be held in the escrow
depository or trust account until the legal title or
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Public Report
11013.5. The public report of the commissioner,
when issued, shall indicate the method or
procedure selected by the owner or subdivider to
comply with the provisions of Sections 11013.1,
11013.2 or 11013.4.
Investigation of Subdivision Offering
11014. The commissioner may investigate any
subdivision being offered for sale or lease in this
State. For the purposes of such investigations the
commissioner may use and rely upon any
relevant information or data concerning a
subdivision obtained by him from the Federal
Housing Administration, the United States
Veterans Administration or any other federal
agency having comparable duties and functions
in relation to subdivisions or property therein.
Issuance or Denial of Public Report
11018. The Real Estate Commissioner shall
make an examination of any subdivision, and
shall, unless there are grounds for denial, issue
to the subdivider a public report authorizing the
sale or lease in this state of the lots or parcels
within the subdivision. The report shall contain
the data obtained in accordance with Section
11010 and which the commissioner determines
are necessary to implement the purposes of this
article. The commissioner may publish the
report.
The grounds for denial are:
(a) Failure to comply with any of the provisions
in this chapter or the regulations of the
commissioner pertaining thereto.
(b) The sale or lease would constitute
misrepresentation to or deceit or fraud of the
purchasers or lessees.
(c) Inability to deliver title or other interest
contracted for.
(d) Inability to demonstrate that adequate
financial arrangements have been made for all
offsite improvements included in the offering.
(e) Inability to demonstrate that adequate
financial arrangements have been made for any
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for
the
subdivision
owners
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Time-Share Instrument
11215. (a) The time-share instrument shall
prohibit a person from seeking or obtaining,
through any legal procedures, judicial partition
of the time-share interest or sale of the timeshare interest, in lieu of partition and shall
subordinate all rights that a time-share interest
owner might otherwise have as a tenant-incommon in real property to the terms of the
time-share instrument.
(b) Subdivision (a) shall not be deemed to
prohibit a sale of an accommodation upon
termination of the time-share plan or the
removal of an accommodation from the timeshare plan in accordance with applicable
provisions of the time-share instrument.
Exchange Program
11216. (a) An exchange program is not a part of
a time-share plan offering and, except as
provided in this section and Section 11238, shall
not be subject to either this chapter or the
regulations of the commissioner adopted
pursuant to this chapter.
(b) If a developer offers a purchaser the
opportunity to subscribe to or to become a
member of an exchange program, the developer
shall provide to the purchaser in writing all of
the information set forth in paragraphs (1) to
(17), inclusive. If the exchange company is
offering directly to the purchaser the opportunity
to subscribe to or become a member of an
exchange company, the exchange company shall
provide to the purchaser in writing all of the
information set forth in paragraphs (1) to (17),
inclusive. In either case, the written information
shall be provided prior to or concurrently with
the execution of any contract or subscription for
membership in the exchange program.
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which
any
applicable
registration
requirements have not been fully satisfied.
(4) Any audio, written, or visual publication
or material relating to the availability of any
accommodations for transient rental, so long
as a sales presentation is not a term or
condition of the availability of the
accommodations and so long as the failure
of any transient renter to take a tour of a
time-share property or attend a sales
presentation does not result in any reduction
in the level of services that would otherwise
be available to the transient renter.
(b) Any communication regarding a time-share
interest that is addressed to any person who has
previously executed a contract for the sale or
purchase of that time-share interest and that does
not constitute a solicitation of a time-share
interest, shall be exempt from this chapter.
Interest in Subdivided Lands
11218. A time-share interest in a time-share plan
shall be deemed an interest in subdivided lands
or a subdivision for purposes of subdivision (f)
of Section 25100 of the Corporations Code.
Qualified Resort Vacation Club Projects, TimeShares and Injunctions
11219. (a) Time-share plans registered as
Qualified Resort Vacation Club Projects under
prior law shall continue to operate under that
prior law notwithstanding anything in this
chapter to the contrary.
(b) (1) All registrations of time-share plans in
effect on the effective date of this chapter
shall remain in full force and effect and shall
be considered registered pursuant to this
chapter.
(2) All time-share plans included in this
subdivision are subject to Sections 11217,
11219, 11238, 11239, 11245, 11250, and
11280 to 11286, inclusive, and shall be
required to comply with the other provisions
of this chapter at the time they seek
amendment or renewal of their existing
registrations. When an amendment or
renewal of a time-share plan is filed with the
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WARNING:
THE
CALIFORNIA
DEPARTMENT OF REAL ESTATE HAS
NOT EXAMINED THIS OFFERING,
INCLUDING, BUT NOT LIMITED TO,
THE CONDITION OF TITLE, THE
STATUS OF BLANKET LIENS ON THE
PROJECT (IF ANY), ARRANGEMENTS
TO ASSURE PROJECT COMPLETION,
ESCROW
PRACTICES,
CONTROL
OVER
PROJECT
MANAGEMENT,
RACIALLY
DISCRIMINATORY
PRACTICES
(IF
ANY),
TERMS,
CONDITIONS, AND PRICE OF THE
OFFER, CONTROL OVER ANNUAL
ASSESSMENTS (IF ANY), OR THE
AVAILABILITY OF WATER, SERVICES,
UTILITIES, OR IMPROVEMENTS. IT
MAY BE ADVISABLE FOR YOU TO
CONSULT AN ATTORNEY OR OTHER
KNOWLEDGEABLE
PROFESSIONAL
WHO IS FAMILIAR WITH REAL
ESTATE AND DEVELOPMENT LAW IN
THE STATE WHERE THIS TIME-SHARE
PROPERTY IS SITUATED.
WARNING:
THE
CALIFORNIA
DEPARTMENT OF REAL ESTATE HAS
NOT EXAMINED THIS OFFERING,
INCLUDING, BUT NOT LIMITED TO,
THE CONDITION OF TITLE, THE
STATUS OF BLANKET LIENS ON THE
PROJECT (IF ANY), ARRANGEMENTS
TO ASSURE PROJECT COMPLETION,
ESCROW
PRACTICES,
CONTROL
OVER
PROJECT
MANAGEMENT,
RACIALLY
DISCRIMINATORY
PRACTICES
(IF
ANY),
TERMS,
CONDITIONS, AND PRICE OF THE
OFFER, CONTROL OVER ANNUAL
ASSESSMENTS (IF ANY), OR THE
AVAILABILITY OF WATER, SERVICES,
UTILITIES, OR IMPROVEMENTS. IT
MAY BE ADVISABLE FOR YOU TO
CONSULT AN ATTORNEY OR OTHER
KNOWLEDGEABLE
PROFESSIONAL
WHO IS FAMILIAR WITH REAL
ESTATE AND DEVELOPMENT LAW IN
THE COUNTRY WHERE THIS TIMESHARE PROPERTY IS SITUATED.
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her agent
a copy of
a written
following
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administration
of
this
chapter.
The
commissioner shall hold at least one hearing
each calendar year to determine if lower fees
than those specified in subdivision (b) should be
prescribed.
(b) The filing fees for an application for a public
report to be issued under authority of this
chapter shall not exceed the following for each
time-share plan, location, or phase of the timeshare plan in which interests are to be offered for
sale or lease:
(1) One thousand seven hundred dollars
($1,700) plus ten dollars ($10) for each
time-share interest to be offered for an
original public report application.
(2) Six hundred dollars ($600) plus ten
dollars ($10) for each time-share plan
interest to be offered that was not permitted
to be offered under the public report to be
renewed for a renewal public report or
permit application.
(3) Five hundred dollars ($500) plus ten
dollars ($10) for each time-share interest to
be offered under the amended public report
for which a fee has not previously been paid
for an amended public report application.
(4) Five hundred dollars ($500) for a
conditional public report application.
(c) Fees collected by the commissioner under
authority of this chapter shall be deposited into
the Real Estate Fund pursuant to Chapter 6
(commencing with Section 10450) of Part 1.
Fees received by the commissioner pursuant to
this article shall be deemed earned upon receipt.
No part of any fee is refundable unless the
commissioner determines that it was paid as a
result of mistake or inadvertency. This section
shall remain in effect unless it is superseded
pursuant to Section 10266 or subdivision (a) of
Section 10266.5, whichever is applicable.
Point System
11233. An applicant for a public report for a
time-share plan in which the use and occupancy
of the time-share interest purchased in the timeshare plan is determined according to a point
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following
additional
conspicuous type:
disclosure
in
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Prohibited Acts
11245. (a) No person subject to this chapter shall
do any of the following:
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A
or
of
or
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Regulation By State
11280. (a) Except as specifically provided in this
section, the regulation of time-share plans and
exchange programs is an exclusive power and
function of the state. A unit of local government
may not regulate time-share plans or exchange
programs.
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