Bus. & Prof. Code, § 7507.115 · Article 8. Conduct of Business
Bus. & Prof. Code, § 7507.115
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) A licensee shall not appraise or determine the value of any collateral, whether damaged or not.
(b) (1) Notwithstanding subdivision (a), a licensee may complete a condition report that makes a general assessment of the collateral.
(2) A condition report does not include all damage or missing parts.
(3) A condition report shall include the following statement: “In accordance with Section 7507.115 of the Business and Professions Code, this condition report is a general assessment of the collateral and does not include all damage or missing parts.”
Notes and commentary — not statutory text
History
Amended by Stats. 2015, Ch. 740, Sec. 6. (AB 281) Effective January 1, 2016.
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=7507.115.
- Text hash
- sha256 628d1098312348f3587c7c551cc4fd43685ac9102b060b0f7d7864331d3f0305
- 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
Cited by 1 provision
Provisions in this library whose text cites Bus. & Prof. Code, § 7507.115. Each shows the citation as that text prints it.
Business and Professions Code
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