Today's Law As Amended


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AB-44 Real estate licensees.(2021-2022)



As Amends the Law Today


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  the licensee  is performing acts for which a real estate license is required.
(b) (1) A real estate licensee shall disclose his or her  their  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 10015.4, on all solicitation materials intended to be the first point of contact with consumers and on real property purchase agreements when acting in a manner that requires a real estate license or mortgage loan originator license endorsement 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) A real estate licensee who is a natural person and who legally changes the surname in which their license was originally issued may continue to utilize their former surname for the purpose of conducting business associated with their license so long as both names are filed with the department. Use of a former surname shall not constitute a fictitious name for the purposes of Section 10159.5.
(2) (3)  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) (4)  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 10015.4, 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.