California Business and Professions Code

§ 10232.2

BPC § 10232.2 Effective Jan 1, 2023Div. 4 · Part 1 · Ch. 3 · Art. 5

Statute text

A real estate broker who meets the criteria of subdivision (a) of Section 10232 shall annually file the reports referred to in subdivisions (a) and (c) with the Department of Real Estate within 90 days after the end of the broker’s fiscal year or within any additional time as the Real Estate Commissioner may allow for filing for good cause:

(a)The report of a review by a licensed California independent public accountant of trust fund financial statements, conducted in accordance with generally accepted accounting practices, which shall include within its scope the following information for the fiscal year relative to the business activities of the broker described in subdivisions (d) and (e) of Section 10131:

(1)The receipt and disposition of all funds of others to be applied to the making of loans and the purchasing of promissory notes or real property sales contracts.

…

Legislative history

Amended by Stats. 2022, Ch. 28, Sec. 14. (SB 1380) Effective January 1, 2023.