California Business and Professions Code

§ 10474

BPC § 10474 Effective Jan 1, 2012Div. 4 · Part 1 · Ch. 6.5

Statute text

Notwithstanding any other provision of this chapter and regardless of the number of persons aggrieved or parcels of real estate involved in a transaction or the number of judgments against a licensee, the liability of the Consumer Recovery Account shall not exceed the following amounts:

(a)Except as provided in subdivision (b), causes of action which occurred on or after January 1, 1980, twenty thousand dollars ($20,000) for any one transaction and one hundred thousand dollars ($100,000) for any one licensee.

(b)For applications for payment from the Consumer Recovery Account filed on or after January 1, 2009, fifty thousand dollars ($50,000) for any one transaction and two hundred fifty thousand dollars ($250,000) for any one licensee.

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Legislative history

Amended by Stats. 2011, Ch. 712, Sec. 26. (SB 706) Effective January 1, 2012.