California Business and Professions Code

§ 11413

BPC § 11413 Effective Jan 1, 2026Div. 4 · Part 3 · Ch. 8

Statute text

(a)(1) When an aggrieved person obtains either (A) a final judgment in a court of competent jurisdiction, including, but not limited to, a criminal restitution order issued pursuant to subdivision (f) of Section 1202.4 of the Penal Code or Section 3663 of Title 18 of the United States Code, or (B) an arbitration award that includes findings of fact and conclusions of law rendered in accordance with the rules established by the American Arbitration Association or another recognized arbitration body, and in accordance with Sections 1281 to 1294.2, inclusive, of the Code of Civil Procedure when applicable, and when the arbitration award has been confirmed and reduced to judgment pursuant to Section 1287.4 of the Code of Civil Procedure, against a defendant based upon the defendant’s fraud, misrepresentation, or deceit with intent to defraud, and arising directly out of any transaction in which the defendant, while licensed under this part, performed acts for which a real estate appraiser’s license was required, the aggrieved person may, upon the judgment becoming final, file an application with the bureau for payment from the Recovery Account, within the limitations specified in Section 11418, of the amount unpaid on the judgment that represents an actual and direct loss to the claimant in the transaction.

(2)As used in this section, “actual and direct loss” excludes all of the following:

(A)Punitive or exemplary damages.

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Legislative history

Added by Stats. 2025, Ch. 786, Sec. 37. (SB 774) Effective January 1, 2026. Repealed as of January 1, 2030, pursuant to Section 11420.