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Current as of January 01, 2023 | Updated by FindLaw Staff
Should the commissioner pay from the Consumer Recovery Account any amount in settlement of a claim or toward satisfaction of a judgment against a licensed broker or salesperson or a person holding a prepaid rental listing service license, the license of the broker or salesperson or prepaid rental listing service licensee shall be automatically suspended upon the date of payment from the Consumer Recovery Account. No broker or salesperson or prepaid rental listing service licensee shall be granted reinstatement until he or she has repaid in full, plus interest at the prevailing legal rate applicable to a judgment rendered in any court of this state, the amount paid from the Consumer Recovery Account on his or her account. A discharge in bankruptcy shall not relieve a person from the penalties and disabilities provided in this chapter.
Cite this article: FindLaw.com - California Code, Business and Professions Code - BPC § 10475 - last updated January 01, 2023 | https://codes.findlaw.com/ca/business-and-professions-code/bpc-sect-10475/
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