AB 2018, as amended, Bocanegra. Real estate licensees: fictitious business names.
Existing law provides for the licensure and regulation of real estate brokers and real estate salespersons by the California Bureau of Real Estate headed by the Real Estate Commissioner. Existing law requires an applicant who desires to have his or her license issued under a fictitious business name to file with his or her application a certified copy of his or her fictitious business name statement.
This bill would authorize the bureau to establish, by regulation, criteria for a business name that shall be approved, including examples in which the adequate identification of the licensee in a business name by licensee surname, identification of employing broker, if any, and display of license numbers is sufficient to avoid characterization as a fictitious name.
begin insertThis bill would provide, for purposes of the provisions described above, that a business name is not a fictitious business name if the name is used by two or more real estate licensees, the name includes one or more first and last names or surnames in conjunction with the term “associates,” “group,” or “team,” and the licensees include certain identifying information on marketing and advertising materials, “for sale” signage, and solicitation materials intended to be the first point of contact with consumers.
end insertVote: majority.
Appropriation: no.
Fiscal committee: begin deleteno end deletebegin insertyesend insert.
State-mandated local program: no.
The people of the State of California do enact as follows:
Section 10159.5 of the Business and Professions
2Code is amended to read:
(a) Every person applying for a license under this
4chapter who desires to have the license issued under a fictitious
5business name shall file with his or her application a certified copy
6of his or her fictitious business name statement filed with the
7county clerk pursuant to Chapter 5 (commencing with Section
817900) of Part 3 of Division 7.
9(b) The bureau may, by regulation, establish criteria for a
10business name that shall be approved pursuant to this section,
11including examples in which the adequate identification of the
12licensee in a business name by licensee surname, identification of
13employing broker, if any, and display of license numbers is
14sufficient
to avoid characterization as a fictitious name.
15(c) For purposes of this section, a business name is not a
16fictitious business name if all of the following conditions are
17satisfied:
18(1) The name is used by two or more real estate licensees.
end insertbegin insert
19(2) The name includes one or more first and last names or
20surnames in conjunction with the term “associates,” “group,” or
21“team.”
22(3) The licensees include all of the following information on all
23marketing and advertising materials in print or electronic media,
24“for sale” signage, and solicitation materials intended to be the
25first point of contact with consumers, as defined in paragraph (2)
26of subdivision (b) of Section 10140.6:
27(A) Name or surname.
end insertbegin insert28(B) License number.
end insertbegin insert
29(C) Name of the
employing broker, which shall be equally
30prominent as the first and last names or surnames used in
31conjunction with the term “associates,” “group,” or “team.”
P3 1(d) Nothing in this section shall be construed to limit or change
2a real estate broker’s duties to supervise a salesperson under this
3division.
4(e) A business name using the term “associates,” “group,” or
5“team,” means an association of two or more real estate licensees.
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