Is Cal. Bus. & Prof. Code § 7507.115 — Conduct of Business still in force?

Statute · California Business and Professions Code

Cal. Bus. & Prof. Code § 7507.115 — Conduct of Business

Cal. Bus. & Prof. Code § 7507.115

Type: Statute
Source: California Business and Professions Code
Jurisdiction: California
Date: 2016-01-01
Current through: Nov 2, 2026 (California Legislative Counsel)

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

Citator

Cal. Bus. & Prof. Code § 7507.115 — Conduct of Business is in force in the current edition of the Code, and nothing recorded condemns it.

(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.

(3) A condition report shall include the following statement: “In accordance with Section 7507.115 of the Business and Professions Code, this condition report is a general assessment of the collateral and does not include all damage or missing parts.”