Mary Hayashi
- Democratic
Author
The Real Estate Law provides for the regulation and licensure of real estate brokers and salespersons by the Real Estate Commissioner. As used in the Real Estate Law, the term "advance fee" is defined as a fee, regardless of the form, that is claimed, demanded, charged, received, or collected by a licensee from a principal before fully completing each and every service the licensee contracted to perform, or represented would be performed, with certain exceptions. This bill would redefine the term "advance fee" to mean a fee, regardless of the form, that is claimed, demanded, charged, received, or collected by a licensee for services requiring a license, or for a listing, as defined, before fully completing the service the licensee contracted to perform or represented would be performed, with certain exceptions. The bill would, in addition to the existing exceptions, also exempt from the definition of advance fee moneys claimed, demanded, charged, received, or collected for the purposes of advertising the sale, lease, or exchange of real property or a business opportunity in a newspaper, written publication, or other electronic media, as specified, or moneys earned for real estate services under a limited service contract, as defined, for stand-alone services. The bill would also exempt from that definition a contract between a real estate broker and a principal that requires payment of a commission to the broker after the contract is fully performed.
Approved by the Governor.
Chaptered by Secretary of State - Chapter 85, Statutes of 2010.
Enrolled and to the Governor at 2 p.m.
Senate amendments concurred in. To enrollment. (Ayes 79. Noes 0. Page 5924.)
In Assembly. Concurrence in Senate amendments pending. May be considered on or after June 30 pursuant to Assembly Rule 77.
Read third time, passed, and to Assembly. (Ayes 32. Noes 0. Page 4098.)
Ordered to Special Consent Calendar.
Read second time. To third reading.
Withdrawn from committee. Ordered placed on second reading file.
From committee: Do pass, and re-refer to Com. on RLS. with recommendation: To Consent Calendar. Re-referred. (Ayes 9. Noes 0.) (June 16).
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on B., F. & I.
Read third time, passed, and to Senate. (Ayes 73. Noes 0. Page 4546.)
In Senate. Read first time. To Com. on RLS. for assignment.
Read second time. To third reading.
From committee: Do pass. (Ayes 10. Noes 0.) (March 23).
From printer. May be heard in committee March 12.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB1762 | HTML |
| 02/09/10 - Introduced | |
| 06/02/10 - Amended Senate | |
| 07/02/10 - Enrolled | |
| 07/15/10 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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