Lou Correa
- Democratic
Author
The Real Estate Law, the willful violation of which is a crime, provides for the regulation and licensure of real estate brokers and real estate salespersons by the Real Estate Commissioner in the Department of Real Estate. Existing law also requires a real estate broker to procure an additional license for each branch office maintained by the broker. Existing law authorizes the commissioner to suspend or revoke a licensee's license for violations of specified requirements. This bill would authorize an employing broker or corporate designated broker officer appointed by an employing broker to appoint a manager of a branch office or division of the employing broker's real estate business and delegate to that manager responsibility to oversee and supervise operations and activities, as specified. The bill would also require that the appointment be made by means of a written contract and that the employing broker or corporate designated broker officer send a notice to the department identifying the appointed manager and branch office or division, as specified. The bill would also require the employing broker or corporate designated broker officer to notify the commissioner, immediately and in writing, whenever a branch manager is terminated or changed. The bill also specifies that an appointee shall not hold a restricted license, be subject to debarment, or have less than 2 years of full-time real estate experience within 5 years preceding the appointment. The bill provisions described above would become operative on July 1, 2012. The bill would authorize the commissioner to suspend or revoke the license of an appointed licensee for failure to properly oversee and supervise operations, as specified. By adding provisions to the Real Estate Law, the willful violation of which would be a new crime, this bill would create a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.
Approved by the Governor.
Chaptered by Secretary of State. Chapter 709, Statutes of 2011.
Enrolled and presented to the Governor at 11:30 a.m.
In Senate. Ordered to engrossing and enrolling.
Read third time. Passed. (Ayes 65. Noes 12. Page 2579.) Ordered to the Senate.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 15. Noes 1.) (July 13).
From committee: Do pass and re-refer to Com. on APPR. (Ayes 11. Noes 0.) (June 27). Re-referred to Com. on APPR.
From committee: Do pass and re-refer to Com. on B. & F. with recommendation: To consent calendar. (Ayes 9. Noes 0.) (June 21). Re-referred to Com. on B. & F.
Referred to Coms. on B., P. & C.P. and B. & F.
In Assembly. Read first time. Held at Desk.
Read third time. Passed. (Ayes 39. Noes 0. Page 1173.) Ordered to the Assembly.
Read second time. Ordered to third reading.
From committee: Be placed on second reading file pursuant to Senate Rule 28.8.
Set for hearing May 16.
Re-referred to Com. on APPR. pursuant to Joint Rule 10.5.
Read second time and amended. Ordered to third reading.
From committee: Do pass as amended. (Ayes 6. Noes 0. Page 785.) (April 27).
Set for hearing April 27.
From committee: Do pass and re-refer to Com. on B. & F.I. (Ayes 9. Noes 0. Page 616.) (April 11). Re-referred to Com. on B. & F.I.
Set for hearing April 11.
Referred to Coms. on B., P. & E.D. and B. & F.I.
From printer. May be acted upon on or after March 20.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB510 | HTML |
| 02/17/11 - Introduced | |
| 05/04/11 - Amended Senate | |
| 08/26/11 - Enrolled | |
| 10/09/11 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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