Bus. & Prof. Code, § 10236.2 · Article 5. Transactions in Trust Deeds and Real Property Sales Contracts
Bus. & Prof. Code, § 10236.2
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) A real estate broker who satisfies the criteria of subdivision (a) or (b) of Section 10232 and who fails to notify the Department of Real Estate, in writing, of that fact within 30 days thereafter as required by subdivision (e) of Section 10232 shall be assessed a penalty of fifty dollars ($50) per day for each additional day written notification has not been received up to and including the 30th day after the first day of the assessment penalty. On and after the 31st day the penalty is one hundred dollars ($100) per day, not to exceed a total penalty of ten thousand dollars ($10,000), regardless of the number of days, until the department receives the written notification.
(b) The commissioner may suspend or revoke the license of any real estate broker who fails to pay a penalty imposed under this section. In addition, the commissioner may bring an action in an appropriate court of this state to collect payment of the penalty.
(c) All penalties paid or collected under this section shall be deposited into the Consumer Recovery Account of the Real Estate Fund.
Notes and commentary — not statutory text
History
Amended by Stats. 2021, Ch. 431, Sec. 24. (SB 800) Effective January 1, 2022.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=BPC§ionNum=10236.2.
- Text hash
- sha256 2247a161358fff1c5df3eacdf4f55ed079634f9fb4f172b291a0af89a69ed5f4
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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Business and Professions Code
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