(a) A real estate licensee or mortgage loan originator shall not place an advertisement disseminated primarily in this state for a loan unless there is disclosed within the printed text of that advertisement, or the oral text in the case of a radio or television advertisement, the Department of Real Estate number and the unique identifier assigned to that licensee by the Nationwide Multistate Licensing System and Registry under which the loan would be made or arranged.

(b) “Mortgage loan originator,” “unique identifier,” and “Nationwide Multistate Licensing System and Registry” have the meanings set forth in Section 10166.01.

Terms Used In California Business and Professions Code 10235.5

  • Licensee: means any person authorized by a license, certificate, registration, or other means to engage in a business or profession regulated by this code or referred to in Sections 1000 and 3600. See California Business and Professions Code 23.8
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • State: means the State of California, unless applied to the different parts of the United States. See California Business and Professions Code 21

(Amended by Stats. 2022, Ch. 511, Sec. 68. (SB 1495) Effective January 1, 2023.)

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