California Business and Professions Code 10236.2 – (a) A real estate broker who satisfies the criteria of …
(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.
Terms Used In California Business and Professions Code 10236.2
- license: means license, certificate, registration, or other means to engage in a business or profession regulated by this code or referred to in Section 1000 or 3600. See California Business and Professions Code 23.7
- Recovery Account: shall be deemed to refer to the Consumer Recovery Account. See California Business and Professions Code 10450.6
- State: means the State of California, unless applied to the different parts of the United States. See California Business and Professions Code 21
- Subdivision: means a subdivision of the section in which that term occurs, unless some other section is expressly mentioned. See California Business and Professions Code 15
(c) All penalties paid or collected under this section shall be deposited into the Consumer Recovery Account of the Real Estate Fund.
(Amended by Stats. 2021, Ch. 431, Sec. 24. (SB 800) Effective January 1, 2022.)