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Current as of January 01, 2025 | Updated by Findlaw Staff
Notwithstanding any other provision of this chapter and regardless of the number of persons aggrieved or real estate appraisals involved in a transaction or the number of judgments against a licensee, the liability of the Recovery Account shall not exceed the following amounts:
(a) For applications for payment from the Recovery Account filed on or after January 1, 2026, fifty thousand dollars ($50,000) for any one transaction and two hundred fifty thousand dollars ($250,000) for any one licensee.
(b) When multiple licensed real estate appraisers are involved in a transaction and the individual conduct of two or more licensees results in a judgment meeting the requirements of subdivision (a) of Section 11413, the claimant may seek recovery from the Recovery Account based on the judgment against any licensed real estate appraiser, subject to the limitations of this section and subparagraph (E) of paragraph (7) of subdivision (c) of Section 11413.
Cite this article: FindLaw.com - California Code, Business and Professions Code - BPC § 11418 - last updated January 01, 2025 | https://codes.findlaw.com/ca/business-and-professions-code/bpc-sect-11418/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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