Business and Professions Code - BPC - BPC § 7507.115

Summary

(a) A licensee shall not appraise or determine the value of any collateral, whether damaged or not. (b) (1) Notwithstanding subdivision (a), a licensee may complete a condition report that makes a general assessment of the collateral. (2) A condition report does not include all d

Text

(a)
A licensee shall not appraise or determine the value of any collateral, whether damaged or not.
(b)
(1)
Notwithstanding subdivision (a), a licensee may complete a condition report that makes a general assessment of the collateral.
(2)
A condition report does not include all damage or missing parts.
(3)
A condition report shall include the following statement: “In accordance with Section 7507.115 of the Business and Professions Code, this condition report is a general assessment of the collateral and does not include all damage or
missing parts.”

Retrieval chunks

• #1 | Business and Professions Code - BPC - BPC § 7507.115

  (a) A licensee shall not appraise or determine the value of any collateral, whether damaged or not. (b) (1) Notwithstanding subdivision (a), a licensee may complete a condition report that makes a general assessment of the collateral. (2) A condition report does not include all damage or missing parts. (3) A c…