Diversion of funds or property received for prosecution or completion of a specific construction project or operation, or for a specified purpose in the prosecution or completion of any construction project or operation, or failure substantially to account for the application or use of such funds or property on the construction project or operation for which such funds or property were received constitutes a cause for disciplinary action.
Cal. Bus. & Prof. Code § 7108
Disciplinary Proceedings
Applied in 2 court decisions — leading case Runnion v. Pedrazzini (1981)
Most recently applied in Witt Building Material Co. v. Barker (In Re Barker) (July 1981)
Amended by Stats. 1959, Ch. 97.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.