California Business and Professions Code

§ 7507.115

BPC § 7507.115 Effective Jan 1, 2016Div. 3 · Ch. 11 · Art. 8

(a)A licensee shall not appraise or determine the value of any collateral, whether damaged or not.

(b)(1) Notwithstanding subdivision (a), a licensee may complete a condition report that makes a general assessment of the collateral.

(2)A condition report does not include all damage or missing parts.

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Legislative history

Amended by Stats. 2015, Ch. 740, Sec. 6. (AB 281) Effective January 1, 2016.