Bus. & Prof. Code, § 10239.2 · Article 6. Claim of Exemption From Securities Qualification
Bus. & Prof. Code, § 10239.2
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
For the purposes of this article, the following definitions shall apply:
(a) “Broker” means a person licensed as a broker under this part.
(b) “Affiliate” means a person controlled by, controlling, or under common control with, the broker.
(c) “Servicing agent” means the real estate broker or person exempted from the licensing requirements for real estate brokers under this chapter, to act as agent for the purchasers or lenders to service the notes and deeds of trust, including the handling the receipt and transmission of payments and the institution of foreclosure proceedings in the event of a default.
(d) Except as provided in paragraph (5) of subdivision (j) of Section 10238, the terms “sale” and “offer to sell,” shall have the same meaning as set forth in Section 25017 of the Corporations Code and include the acts of negotiating and arranging the transaction.
Notes and commentary — not statutory text
History
Added by Stats. 2003, Ch. 901, Sec. 2. Effective January 1, 2004.
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=10239.2.
- Text hash
- sha256 5dab671e5da06ab20171ab71e23283c11a47d109e36adcf067633e2fe3bebcaa
- 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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