BILL NUMBER: AB 2069	CHAPTERED  07/14/04

	CHAPTER  140
	FILED WITH SECRETARY OF STATE  JULY 14, 2004
	APPROVED BY GOVERNOR  JULY 13, 2004
	PASSED THE SENATE  JULY 1, 2004
	PASSED THE ASSEMBLY  APRIL 16, 2004

INTRODUCED BY   Assembly Member Chavez

                        FEBRUARY 17, 2004

   An act to repeal Article 6 (commencing with Section 10237) of
Chapter 3 of Part 1 of Division 4 of the Business and Professions
Code, relating to real estate.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2069, Chavez.  Real estate.
   Existing statutes enacted in 2003 revised certain provisions of
the Real Estate Law pertaining to a multilender transaction and
defined the term "current market value" for the purposes of
construction and rehabilitation loans, but two different statutes
added the same articles with the same section numbers to the Real
Estate Law.  However, only the provisions of one of the statutes
included all of the provisions of the other statute.
   This bill would repeal the provisions of the statute that does not
include all of the provisions of the other statute.


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


  SECTION 1.  Article 6 (commencing with Section 10237) of Chapter 3
of Part 1 of Division 4 of the Business and Professions Code, as
added by Section 4 of Chapter 902 of the Statutes of 2003, is
repealed.