California Code of Regulations
Title 10 - Investment
Chapter 6 - Real Estate Commissioner
Article 18.8 - Voluntary Surrender of License
Section 2940 - Petition for Voluntary Surrender of License

Universal Citation: 10 CA Code of Regs 2940

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

(a) A licensee may petition the commissioner under Section 10100.2 of the Code to accept the voluntary surrender of his or her real estate license or license rights. The petition shall be in writing and shall contain the following:

(1) A reference to the investigation or accusation giving rise to the petition.

(2) An identification of the real estate licenses or license rights held by the petitioner.

(3) An acknowledgment that the petitioner has read and agrees to the following as a condition of the commissioner's acceptance of the petition:

The filing of a petition shall be deemed to be an understanding and agreement by the licensee that upon acceptance by the commissioner all affidavits obtained in the investigation prior to the acceptance and all allegations contained in an accusation filed pursuant to Section 11503 of the Government Code may be considered by the Bureau to be true and correct for the purpose of deciding whether or not to grant reinstatement of the license.

(b) Acceptance of a petition to surrender a license shall be pursuant to an Order issued by the commissioner. The commissioner may refuse to accept a surrender of a license if it is determined in the exercise of his or her discretion, that it would not be in the public interest to accept the surrender.

1. New article 18.8 (section 2940) and section filed 12-30-97; operative 1-29-98 (Register 98, No. 1).
2. Change without regulatory effect amending subsection (a)(3) filed 6-30-2014 pursuant to section 100, title 1, California Code of Regulations (Register 2014, No. 27).

Note: Authority cited: Section 10080, Business and Professions Code. Reference: Section 10100.2, Business and Professions Code.

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