Calderon
Author
(1) The Real Estate Law provides for the regulation and licensure of real estate brokers and real estate salespersons by the Real Estate Commissioner and makes any person who willfully violates or knowingly participates in the violation of its provisions guilty of a crime. Existing law authorizes the commissioner, upon his or her own motion, and requires the commissioner upon the verified complaint in writing of any person, to investigate the actions of a real estate licensee who has engaged in specified acts. If the commissioner finds that a licensee has committed those acts, existing law authorizes the commissioner to suspend or revoke the license of the licensee or to, instead, impose specified monetary penalties, which are required to be credited to the Recovery Account in the Real Estate Fund. This bill would authorize the commissioner to issue citations to unlicensed persons the commissioner believes to be engaging in activities for which a real estate license is required or to licensees who are in violation of any provision of the Real Estate Law or any rule or order thereunder. The bill would authorize citations to include an order to correct the violation or to include an administrative penalty of up to $2,500. The bill would require any fines collected pursuant to these provisions to be credited to the Recovery Account, to be made available upon appropriation by the Legislature. The bill would make additional changes with regard to the commissioner's authority pertaining to discipline and, on and after July 1, 2012, licensure renewal. This bill would further authorize the commissioner to apply to the superior court for an order requiring a licensee to appear before the commissioner or to produce evidence under specified circumstances. The bill would authorize the court to punish as contempt the failure of a licensee to comply with such an order. Because contempt of court is punishable as a crime, the bill would impose a state-mandated local program. The bill would also authorize the commissioner to make information public confirming an investigation or proceeding against an unlicensed person or licensee, as specified. (2) Existing law imposes certain disclosure and recording requirements on real estate brokers engaging in escrow activities. This bill, on and after July 1, 2012, would require a real estate broker who is exempt from the Escrow Law and who engages in escrow activities for 5 or more transactions in a calendar year or whose escrow activities equal or exceed $1,000,000 in a calendar year to file a specified report with the department within 60 days following the completion of the calendar year. The bill would authorize the commissioner to assess specified penalties upon a real estate broker who fails to provide the report to the department, would require the penalties to be deposited in the Recovery Account of the Real Estate Fund, to be made available upon appropriation by the Legislature, and would authorize the commissioner to suspend or revoke the license of a real estate broker for failure to pay those penalties. Because a willful violation of these provisions by a real estate broker would be a crime, the bill would impose a state-mandated local program. (3) Existing law authorizes the commissioner to suspend or revoke a real estate license, if the licensee has engaged in specified acts. This bill would authorize the commissioner to suspend or revoke a real estate license if the licensee has violated any provision of law that constitutes a violation of the licensing law applicable to the licensee, as specified. (4) Existing law makes it unlawful for any person to offer or sell any security in an issuer transaction unless the sale has been qualified or the security or transaction is exempted or is not subject to qualification, as specified. Existing law exempts from qualification a transaction that involves the sale of a series of notes secured directly by an interest in real property or the sale of undivided interests in a note secured directly by real property equivalent to a series transaction. Existing law requires a real estate broker to indicate in the real estate broker's transaction file the provisions of law pertaining to qualification or exemption from qualification under which a transaction is being conducted. Existing law requires a real estate broker to file certain information with the commissioner relative to conducting these transactions that are exempt from qualification. This bill would require a real estate broker to submit a copy of the information in the real estate broker's transaction file relative to qualification or exemption from qualification for a transaction to any investor from whom the real estate broker obtains funds in connection with the transaction. The bill would also recast specified provisions relative to the requirements that apply to transactions exempt from qualification. Because a willful violation of these provisions by a real estate broker would be a crime, the bill would impose a state-mandated local program. (5) Existing law provides specified government law enforcement entities with access to records of the Department of Motor Vehicles. This bill would provide the Real Estate Commissioner with access to those records for purposes of enforcing specified provisions of the Real Estate Law or the Subdivided Lands Law. (6) This bill would incorporate additional changes in Section 10176 of the Business and Professions Code, proposed by SB 6, to be operative only if SB 6 and this bill are both chaptered and become effective on or before January 1, 2012, and this bill is chaptered last. (7) 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.
Chaptered by Secretary of State. Chapter 717, Statutes of 2011.
Approved by the Governor.
Enrolled and presented to the Governor at 11:30 a.m.
Assembly amendments concurred in. (Ayes 40. Noes 0. Page 2405.) Ordered to engrossing and enrolling.
Read third time. Passed. (Ayes 78. Noes 0. Page 2992.) Ordered to the Senate.
In Senate. Concurrence in Assembly amendments pending.
Ordered to third reading.
Read third time and amended. (Page 2639.)
From consent calendar.
Ordered to third reading.
Read second time. Ordered to consent calendar.
From committee: Do pass. Ordered to consent calendar. (Ayes 17. Noes 0.) (August 17).
From committee: Do pass and re-refer to Com. on APPR. (Ayes 10. Noes 0.) (June 27). Re-referred to Com. on APPR.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.
From committee: Do pass and re-refer to Com. on B. & F. (Ayes 9. Noes 0.) (June 14). 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 38. Noes 0. Page 1183.) 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.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on APPR.
Set for hearing May 23.
Set, first hearing. Hearing canceled at the request of author.
Set for hearing May 16.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 1. Page 847.) (May 2). Re-referred to Com. on APPR.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on B., P. & E.D.
Set for hearing May 2.
Read second time and amended. Re-referred to Com. on B., P. & E.D.
From committee: Do pass as amended and re-refer to Com. on B., P. & E.D. (Ayes 6. Noes 1. Page 579.) (April 6).
From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.I.
Set for hearing April 6.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.I.
Referred to Coms. on B. & F.I. and B., P. & E.D.
Read first time.
From printer. May be acted upon on or after January 16.
Introduced. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB53 | HTML |
| 12/16/10 - Introduced | |
| 02/07/11 - Amended Senate | |
| 03/22/11 - Amended Senate | |
| 04/11/11 - Amended Senate | |
| 04/14/11 - Amended Senate | |
| 05/16/11 - Amended Senate | |
| 06/15/11 - Amended Assembly | |
| 08/29/11 - Amended Assembly | |
| 09/12/11 - Enrolled | |
| 10/09/11 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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