California Business and Professions Code

§ 10166.02

BPC § 10166.02 Effective Jan 1, 2023Div. 4 · Part 1 · Ch. 3 · Art. 2.1

Statute text

(a)A real estate broker who acts pursuant to Section 10131.1 or subdivision (d) or (e) of Section 10131, and who makes, arranges, or services loans secured by real property containing one to four residential units, and any salesperson who acts in a similar capacity under the supervision of that broker, shall notify the department by January 31, 2010, or within 30 days of commencing that activity, whichever is later. The notification shall be made in writing, as directed, on a form that is acceptable to the commissioner.

(b)No individual may engage in business as a mortgage loan originator under this article without first doing both of the following:

(1)Obtaining and maintaining a real estate license pursuant to Article 2 (commencing with Section 10150).

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Legislative history

Amended by Stats. 2022, Ch. 511, Sec. 58. (SB 1495) Effective January 1, 2023.