California Business and Professions Code 7507.2 – (a) A licensee is responsible for those actions that are …
(a) A licensee is responsible for those actions that are performed in violation of this chapter by his or her registrants, including his or her manager, when acting within the course and scope of his or her employment or contract.
(b) Each licensee shall maintain a file or record of the name, address, commencing date of employment or retention, and position of each registrant, and the date of termination of the employment or contract when a registrant is terminated. The file and records, together with usual compensation records, shall be available for inspection by the bureau, and copies thereof, and information pertaining thereto or contained therein, shall be submitted to the bureau upon request.
Terms Used In California Business and Professions Code 7507.2
- Bureau: means the Bureau of Security and Investigative Services. See California Business and Professions Code 7500.1
- Contract: A legal written agreement that becomes binding when signed.
- Licensee: means an individual, partnership, limited liability company, or corporation licensed under this chapter as a repossession agency. See California Business and Professions Code 7500.1
- Registrant: means a person registered under this chapter. See California Business and Professions Code 7500.1
(Amended by Stats. 1999, Ch. 456, Sec. 11. Effective January 1, 2000.)