California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 6 - California Financing Law
Article 15 - Pace Program Administrators
Section 1620.27 - Automated Valuation Model

Universal Citation: 10 CA Code of Regs 1620.27

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

(a) A program administrator shall maintain in its books and records under section 1620.07 of these rules evidence documenting the confidence scores and estimated values for all the automated valuation models used to derive the market value of each property subject to a PACE assessment.

(b) The disclosure to the property owner of the market value determination for the property required under subdivision (b) of Financial Code section 22685 prior to the signing of the assessment contract shall be in writing.

1. New section filed 8-5-2021; operative 10-1-2021 (Register 2021, No. 32). Transmission deadline specified in Government Code section 11346.4(b) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20. Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20.

Note: Authority cited: Section 22150, Financial Code. Reference: Sections 22684 and 22685, Financial Code; and Section 5898.16, Streets and Highways Code.

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