California Business and Professions Code

§ 11232

BPC § 11232 Effective Jun 29, 2024Div. 4 · Part 2 · Ch. 2 · Art. 2

Statute text

(a)The commissioner may by regulation prescribe filing fees in connection with applications to the Department of Real Estate for a public report pursuant to the provisions of this chapter that are lower than the maximum fees specified in subdivision (b) if the commissioner determines that the lower fees are sufficient to offset the costs and expenses incurred in the administration of this chapter. The commissioner shall hold at least one hearing each calendar year to determine if lower fees than those specified in subdivision (b) should be prescribed. At this hearing, the department shall report on the financial status of the department, including the revenues, expenditures, and reserves as of the end of the previous fiscal year. The department shall post a hearing notice 15 days in advance of the hearing that includes the required information about the financial status of the department.

(b)The filing fees for an application for a public report to be issued under authority of this chapter shall be set at the amount prescribed below and shall not exceed the maximum specified for each time-share plan, location, or phase of the time-share plan in which interests are to be offered for sale or lease:

(1)Two thousand five hundred dollars ($2,500), not to exceed three thousand two hundred fifty dollars ($3,250), plus fifteen dollars ($15), not to exceed twenty dollars ($20), for each time-share interest to be offered for an original public report application.

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Legislative history

Amended by Stats. 2024, Ch. 41, Sec. 18. (SB 164) Effective June 29, 2024.