SENATE BILL 510 (2011) provides that a broker can appoint a branch manager who meets certain criteria and will be accountable for violations of the Real Estate Law and for failure to supervise. SB 510 was the direct product of the DRE's Broker Supervision Task Force. Prior to enactment of SB 510, there were no disciplinary consequences for a licensees who had supervisory authority delegated to him or her by the employing broker. This bill was an additional effort by the Legislature to increase real estate agent accountability during the economic crisis. ASSEMBLY BILL 1424 (2011) requires the DRE to automatically suspend the license of any person appearing on the list of the 500 largest tax delinquencies compiled by the Board of Equalization and the Franchise Tax Board. This bill imposed a suspension requirement on many professional licensing agencies in an effort to improve tax collection efforts and reduce the competitive advantage obtained by non-taxpaypers. Both bills are effective July 1, 2012.
July 1, 2012