Section 11345.2 - Right to act as controlling person(a) An individual shall not act as a controlling person for a registrant if any of the following apply: (1) The individual has entered a plea of guilty or no contest to, or been convicted of, a felony. If the individual's felony conviction has been dismissed pursuant to Section 1203.4, 1203.4a, 1203.41, 1203.42, or 1203.425 of the Penal Code, the bureau may allow the individual to act as a controlling person.(2) The individual has had a license or certificate to act as an appraiser or to engage in activities related to the transfer of real property refused, denied, canceled, or revoked in this state or any other state.(b) Any individual who acts as a controlling person of an appraisal management company and who enters a plea of guilty or no contest to, or is convicted of, a felony, or who has a license or certificate as an appraiser refused, denied, canceled, or revoked in any other state shall report that fact or cause that fact to be reported to the bureau, in writing, within 10 days of the date the individual has knowledge of that fact.(c) This section shall become operative on July 1, 2020.Ca. Bus. and Prof. Code § 11345.2
Amended by Stats 2021 ch 431 (SB 800),s 50, eff. 1/1/2022.Amended by Stats 2019 ch 578 (AB 1076),s 5, eff. 1/1/2020.Added by Stats 2018 ch 995 (AB 2138),s 15, eff. 1/1/2019.