GroundRules
BPC § 7507.115
Where this section sits in the code
- Business and Professions Code - BPC
- DIVISION 3. PROFESSIONS AND VOCATIONS GENERALLY [5000. - 9998.12.]
- CHAPTER 11. Repossessors [7500. - 7511.5.]
- ARTICLE 8. Conduct of Business [7507. - 7507.13.]
(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.”
Collected 2026-09-14T05:56:33Z. Source file · JSON