In any loan transaction in which a fee is charged to a borrower for an appraisal of the real property that will serve as security for the loan, a copy of the appraisal report shall be given by or on behalf of the broker to both the borrower and the lender at or before the closing of the loan transaction.
Cal. Bus. & Prof. Code § 10241.3
Real Property Loans
Known as the Real Estate Law
The act spans §§ 10000–10580 (368 sections).
Added by Stats. 1984, Ch. 828, Sec. 1.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.