Bill Text: CA AB1650 | 2015-2016 | Regular Session | Enrolled

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Real estate licensees: advertisements.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2016-08-19 - Chaptered by Secretary of State - Chapter 142, Statutes of 2016. [AB1650 Detail]

Download: California-2015-AB1650-Enrolled.html

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BILL NUMBER: AB 1650	ENROLLED
	BILL TEXT

	PASSED THE SENATE  JUNE 30, 2016
	PASSED THE ASSEMBLY  AUGUST 4, 2016
	AMENDED IN SENATE  JUNE 8, 2016
	AMENDED IN ASSEMBLY  MARCH 28, 2016
	AMENDED IN ASSEMBLY  FEBRUARY 17, 2016

INTRODUCED BY   Assembly Member Frazier

                        JANUARY 12, 2016

   An act to amend, repeal, and add Section 10140.6 of the Business
and Professions Code, relating to real estate.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 1650, Frazier. Real estate licensees: advertisements.
   Existing law, the Real Estate Law, governs the licensing and
regulation of real estate licensees, as defined, as administered by
the Real Estate Commissioner. Under those provisions, a real estate
licensee is prohibited from publishing, circulating, distributing, or
causing to be published, circulated, or distributed in any newspaper
or periodical, or by mail, any matter pertaining to any activity for
which a real estate license is required that does not contain a
designation disclosing that the licensee is performing acts for which
a real estate license is required. Existing law further requires a
real estate licensee to include his or her license identification
number and, if that licensee is a mortgage loan originator, the
unique identifier assigned to that licensee, on the above-described
circulations, distributions, publications, or mailings, on all
solicitation materials, as described, and on all real property
agreements when acting as an agent in those transactions. Existing
law authorizes the Real Estate Commissioner to adopt regulations in
that regard.
   This bill, beginning January 1, 2018, would revise the disclosure
requirements with regard to solicitation materials to require the
inclusion of the name of the licensee and the responsible broker's
identity, and would revise the description of solicitation materials.
The bill would exclude specified signs from these provisions.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 10140.6 of the Business and Professions Code is
amended to read:
   10140.6.  (a) A real estate licensee shall not publish, circulate,
distribute, or cause to be published, circulated, or distributed in
any newspaper or periodical, or by mail, any matter pertaining to any
activity for which a real estate license is required that does not
contain a designation disclosing that he or she is performing acts
for which a real estate license is required.
   (b) (1) A real estate licensee shall disclose his or her license
identification number and, if that licensee is a mortgage loan
originator, the unique identifier assigned to that licensee by the
Nationwide Mortgage Licensing System and Registry, on all
solicitation materials intended to be the first point of contact with
consumers and on real property purchase agreements when acting as an
agent in those transactions. The commissioner may adopt regulations
identifying the materials in which a licensee must disclose a license
identification number and, if that licensee is a mortgage loan
originator, the unique identifier assigned to that licensee by the
Nationwide Mortgage Licensing System and Registry.
   (2) For purposes of this section, "solicitation materials intended
to be the first point of contact with consumers" includes business
cards, stationery, advertising flyers, and other materials designed
to solicit the creation of a professional relationship between the
licensee and a consumer, and excludes an advertisement in print or
electronic media and "for sale" signs.
   (3) Nothing in this section shall be construed to limit or change
the requirement described in Section 10236.4 as applicable to real
estate brokers.
   (c) The provisions of this section shall not apply to classified
rental advertisements reciting the telephone number at the premises
of the property offered for rent or the address of the property
offered for rent.
   (d) "Mortgage loan originator," "unique identifier," and
"Nationwide Mortgage Licensing System and Registry" have the meanings
set forth in Section 10166.01.
   (e) This section shall remain in effect only until January 1,
2018, and as of that date is repealed, unless a later enacted
statute, that is enacted before January 1, 2018, deletes or extends
that date.
  SEC. 2.  Section 10140.6 is added to the Business and Professions
Code, to read:
   10140.6.  (a) A real estate licensee shall not publish, circulate,
distribute, or cause to be published, circulated, or distributed in
any newspaper or periodical, or by mail, any matter pertaining to any
activity for which a real estate license is required that does not
contain a designation disclosing that he or she is performing acts
for which a real estate license is required.
   (b) (1) A real estate licensee shall disclose his or her name,
license identification number and unique identifier assigned to that
licensee by the Nationwide Mortgage Licensing System and Registry, if
that licensee is a mortgage loan originator, and responsible broker'
s identity, as defined in Section 10159.7, on all solicitation
materials intended to be the first point of contact with consumers
and on real property purchase agreements when acting as an agent in
those transactions. The commissioner may adopt regulations
identifying the materials in which a licensee must disclose a license
identification number and unique identifier assigned to that
licensee by the Nationwide Mortgage Licensing System and Registry,
and responsible broker's identity.
   (2) For purposes of this section, "solicitation materials" include
business cards, stationery, advertising flyers, advertisements on
television, in print, or electronic media, "for sale," rent, lease,
"open house," and directional signs, and other materials designed to
solicit the creation of a professional relationship between the
licensee and a consumer.
   (3) Nothing in this section shall be construed to limit or change
the requirement described in Section 10236.4 as applicable to real
estate brokers.
   (c) This section shall not apply to "for sale," rent, lease, "open
house," and directional signs that do either of the following:
   (1) Display the responsible broker's identity, as defined in
Section 10159.7, without reference to an associate broker or
licensee.
   (2) Display no licensee identification information.
   (d) "Mortgage loan originator," "unique identifier," and
"Nationwide Mortgage Licensing System and Registry" have the meanings
set forth in Section 10166.01.
   (e) This section shall become operative on January 1, 2018.