{"id":6477,"date":"2022-05-25T03:09:02","date_gmt":"2022-05-25T03:09:02","guid":{"rendered":"https:\/\/crowdsourcelawyers.com\/california-statutes\/?page_id=6477"},"modified":"2022-05-25T03:09:02","modified_gmt":"2022-05-25T03:09:02","slug":"how-long-must-a-broker-keep-records-in-california","status":"publish","type":"page","link":"https:\/\/crowdsourcelawyers.com\/california-statutes\/how-long-must-a-broker-keep-records-in-california\/","title":{"rendered":"How Long Must A Broker Keep Records In California"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-l3l0b1jz-a4ba525dfab62856ffb726e14d63e5d4\">\n#top .av-special-heading.av-l3l0b1jz-a4ba525dfab62856ffb726e14d63e5d4{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-l3l0b1jz-a4ba525dfab62856ffb726e14d63e5d4 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-l3l0b1jz-a4ba525dfab62856ffb726e14d63e5d4 .av-subheading{\nfont-size:22px;\n}\n<\/style>\n<div  class='av-special-heading av-l3l0b1jz-a4ba525dfab62856ffb726e14d63e5d4 av-special-heading-h1 blockquote modern-quote  avia-builder-el-0  el_before_av_hr  avia-builder-el-first '><div class='av-subheading av-subheading_above'><p>California<\/p>\n<\/div><h1 class='av-special-heading-tag '  itemprop=\"headline\"  >Business and Professions Code &#8211; BPC \u00a7 10148<\/h1><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_hr-3a876428eececa9d35452247ddb053af\">\n#top .hr.hr-invisible.av-av_hr-3a876428eececa9d35452247ddb053af{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-av_hr-3a876428eececa9d35452247ddb053af hr-invisible  avia-builder-el-1  el_after_av_heading  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<section  class='av_textblock_section av-av_textblock-e878f05c31dff72941bf1e49a00d9ff5 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><p><a href=\"https:\/\/crowdsourcelawyers.com\/\">CrowdSourceLawyers.com<\/a><\/p>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad\">\n#top .avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad .av_searchform_wrapper{\nborder-color:#edae44;\nbackground-color:#edae44;\n}\n#top .avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad #s.av-input-field{\ncolor:#edae44;\n}\n#top .avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad .av-input-field-icon.av-search-icon{\ncolor:#edae44;\n}\n#top .avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad .av-input-field-icon.av-search-icon.avia-svg-icon svg:first-child{\nfill:#edae44;\nstroke:#edae44;\n}\n#top .avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad #searchsubmit{\nbackground-color:#edae44;\n}\n#top .avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad .av_searchsubmit_wrapper{\nbackground-color:#edae44;\n}\n<\/style>\n<div  class='avia_search_element av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad  avia-builder-el-3  el_after_av_textblock  el_before_av_hr '><search><form action='https:\/\/crowdsourcelawyers.com\/california-statutes\/' id='searchform_element' method='get' class='' data-element_id='av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad' ><div class='av_searchform_wrapper'><input type='search' value='' id='s' name='s' placeholder='Search CA statutes' aria-label='Search CA statutes' class='av-input-field ' required \/><div class='av_searchsubmit_wrapper '><input type='submit' value='Find' id='searchsubmit' class='button ' title='View results on search page' aria-label='View results on search page' \/><\/div><input type='hidden' name='numberposts' value='10' \/><input type='hidden' name='results_hide_fields' value='' \/><\/div><\/form><\/search><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_hr-3a876428eececa9d35452247ddb053af\">\n#top .hr.hr-invisible.av-av_hr-3a876428eececa9d35452247ddb053af{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-av_hr-3a876428eececa9d35452247ddb053af hr-invisible  avia-builder-el-4  el_after_avia_sc_search  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<section  class='av_textblock_section av-l3l0buqf-3f3b877458eee4f60d690c0c29a2dffc '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><div class=\"row\">\n<div class=\"subsection\">(a)\u2002A licensed real estate broker shall retain for three years copies of all listings, deposit receipts, canceled checks, trust records, and other documents executed by him or her or obtained by him or her in connection with any transactions for which a real estate broker license is required. \u2002The retention period shall run from the date of the closing of the transaction or from the date of the listing if the transaction is not consummated. \u2002After notice, the books, accounts, and records shall be made available for examination, inspection, and copying by the commissioner or his or her designated representative during regular business hours; and shall, upon the appearance of sufficient cause, be subject to audit without further notice, except that the audit shall not be harassing in nature. \u2002<span class=\"added-material\">This subdivision shall not be construed to require a licensed real estate broker to retain electronic messages of an ephemeral nature, as described in\u00a0<span class=\"cite\">subdivision (d) of Section 1624 of the Civil Code\u00a0<\/span>.<\/span><\/div>\n<div class=\"subsection\">\n<div class=\"subsection\">\n<p>(b)\u2002The commissioner shall charge a real estate broker for the cost of any audit, if the commissioner has found, in a final desist and refrain order issued under\u00a0<span class=\"cite\">Section 10086\u00a0<\/span>or in a final decision following a disciplinary hearing held in accordance with Chapter 5 (commencing with\u00a0<span class=\"cite\">Section 11500) of Part 1 of Division 3 of Title 2 of the Government Code\u00a0<\/span>that the broker has violated\u00a0<span class=\"cite\">Section 10145\u00a0<\/span>or a regulation or rule of the commissioner interpreting\u00a0<span class=\"cite\">Section 10145\u00a0<\/span>.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(c)\u2002If a broker fails to pay for the cost of an audit as described in subdivision (b) within 60 days of mailing a notice of billing, the commissioner may suspend or revoke the broker&#8217;s license or deny renewal of the broker&#8217;s license. \u2002The suspension or denial shall remain in effect until the cost is paid or until the broker&#8217;s right to renew a license has expired.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(d)\u2002The commissioner may maintain an action for the recovery of the cost of an audit in any court of competent jurisdiction. \u2002In determining the cost incurred by the commissioner for an audit, the commissioner may use the estimated average hourly cost for all persons performing audits of real estate brokers.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(e)\u2002The bureau may suspend or revoke the license of any real estate broker, real estate salesperson, or corporation licensed as a real estate broker, if the real estate broker, real estate salesperson, or any director, officer, employee, or agent of the corporation licensed as a real estate broker knowingly destroys, alters, conceals, mutilates, or falsifies any of the books, papers, writings, documents, or tangible objects that are required to be maintained by this section or that have been sought in connection with an investigation, audit, or examination of a real estate licensee by the commissioner.<\/p>\n<\/div>\n<p><br class=\"avia-permanent-lb\" \/><br class=\"avia-permanent-lb\" \/><\/p>\n<\/div>\n<\/div>\n<hr \/>\n<p><a href=\"https:\/\/crowdsourcelawyers.com\/\">CrowdSourceLawyers.com<\/a><\/p>\n<\/div><\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":9,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-6477","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How Long Must A Broker Keep Records In California - California Statutes<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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