SB 710: Real estate licensees: fictitious business names: team names.

The Real Estate Law provides for the licensure and regulation of real estate brokers and real estate salespersons by the Bureau of Real Estate headed by the Real Estate Commissioner. That law requires advertising and solicitation materials using a fictitious business name or that contain a team name to display the responsible brokers identity, as provided. Existing law defines responsible brokers identity to mean a name and the associated license identification number under which the responsible broker is currently licensed and conducts business in general or is a substantial division of the real estate firm, as specified.

This bill would revise the definition of responsible brokers identity to mean the name or both the name and associated license identification number.

This bill would declare that it is to take effect immediately as an urgency statute.