Section 4482 - Management of the Estate(a) The licensee shall protect the assets of the estate.(b) The licensee shall pursue claims against others when it reasonably appears to be in the best interest of the consumer or the estate to do so.(c) The licensee shall defend against actions or claims against the estate when it reasonably appears to be in the best interest of the consumer or the estate to do so.(d) The licensee may incur expenses that are appropriate to the estate, in relation to the assets, overall investment strategy, purpose, and other relevant information and circumstances when investing and managing estate assets.(e) Consistent with the licensee's fiduciary duties, the licensee shall manage the assets of the estate in the best interest of the consumer.(f) The licensee shall manage the estate with prudence, care and judgment, maintaining detailed fiduciary records as required by law.Cal. Code Regs. Tit. 16, § 4482
1. New section filed 11-2-2007 as an emergency; operative 11-2-2007 (Register 2007, No. 44). A Certificate of Compliance must be transmitted to OAL by 4-30-2008 or emergency language will be repealed by operation of law on the following day.
2. Certificate of Compliance as to 11-26-2007 order, including amendment of subsection (d), transmitted to OAL 4-24-2008 and filed 5-19-2008 (Register 2008, No. 21). Note: Authority cited: Sections 6517 and 6520, Business and Professions Code. Reference: Section 6520, Business and Professions Code.
1. New section filed 11-2-2007 as an emergency; operative 11-2-2007 (Register 2007, No. 44). A Certificate of Compliance must be transmitted to OAL by 4-30-2008 or emergency language will be repealed by operation of law on the following day.
2. Certificate of Compliance as to 11-26-2007 order, including amendment of subsection (d), transmitted to OAL 4-24-2008 and filed 5-19-2008 (Register 2008, No. 21).