Cal. Bus. & Prof. Code § 10475

Current through the 2023 Legislative Session.
Section 10475 - Automatic suspension

Should the commissioner pay from the Consumer Recovery Account any amount in settlement of a claim or toward satisfaction of a judgment against a licensed broker or salesperson or a person holding a prepaid rental listing service license, the license of the broker or salesperson or prepaid rental listing service licensee shall be automatically suspended upon the date of payment from the Consumer Recovery Account. No broker or salesperson or prepaid rental listing service licensee shall be granted reinstatement until he or she has repaid in full, plus interest at the prevailing legal rate applicable to a judgment rendered in any court of this state, the amount paid from the Consumer Recovery Account on his or her account. A discharge in bankruptcy shall not relieve a person from the penalties and disabilities provided in this chapter.

Ca. Bus. and Prof'l. Code § 10475

Amended by Stats 2013 ch 436 (SB 269),s 8, eff. 1/1/2014.
Amended by Stats 2011 ch 712 (SB 706),s 28, eff. 1/1/2012.