Mineral, Oil and Gas BrokerageLicenses

Section § 10515

Explanation

This section explains that mineral, oil, and gas brokers in California must follow the same rules as real estate brokers for various licensing requirements. However, they don't have to meet the ongoing education requirements that real estate brokers do to renew their licenses.

(a)CA Business & Professions Code § 10515(a) Mineral, oil, and gas brokers in performing acts within the scope and under the authority of this chapter are subject to the provisions applicable to real estate brokers contained in Sections 10153.6, 10156.2, 10157, 10159, 10159.2, 10159.5, 10161.5, 10161.75, 10162, 10163, and 10165.
(b)CA Business & Professions Code § 10515(b) Mineral, oil, and gas brokers shall not be subject to any of the provisions of Article 2 (commencing with Section 10150) or Article 2.5 (commencing with Section 10170) of Chapter 3 which impose continuing education requirements as a prerequisite to the renewal of a license.
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Section § 10519

Explanation

This law allows a special type of broker's license called a restricted license for someone whose regular mineral, oil, and gas broker license was revoked due to disciplinary action. This special license comes with specific conditions and time limits, and the person may need to post a bond to ensure they follow the rules set by the commissioner.

(a)CA Business & Professions Code § 10519(a) The commissioner may issue a restricted mineral, oil, and gas broker license to a person whose mineral, oil, and gas broker license has been revoked as the result of disciplinary action taken by the commissioner.
(b)CA Business & Professions Code § 10519(b) A restricted mineral, oil, and gas broker license issued by the commissioner may be restricted by term and by the conditions to be observed by the licensee in the performance of acts for which a mineral, oil and gas broker license is required including the posting of a surety bond by the restricted licensee in such form and condition as the commissioner may require.
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Section § 10519.1

Explanation

If you have a restricted license issued under Section 10519, you don’t have any guaranteed rights to keep or renew it. The commissioner has the authority to temporarily suspend your restricted license while they look into any claims of misconduct against you.

There is no property right and no right to the renewal of a restricted license issued pursuant to Section 10519.
The commissioner may suspend a restricted license pending the holding of a hearing on charges alleging a basis for disciplinary action against the restricted licensee.
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