If an offering was accredited at the time of registration by an appraiser, credit for the offering shall be given to the appraiser at the time of initial licensure or upon renewal notwithstanding the fact that approval may have been revoked at the time that the applicant successfully completed the offering except in the event of collusion.
Cal. Code Regs. Tit. 10, § 3669
Note: Authority cited: Sections 11313, 11314 and 11361, Business and Professions Code. Reference: Section 11360, Business and Professions Code.