Real estate records: unlawful destruction.

Existing law requires a licensed real estate broker to retain for 3 years copies of all listings, deposit receipts, canceled checks, trust records, and other documents executed by him or her or obtained by him or her in connection with any transactions for which a real estate broker license is required. Existing law provides that after notice, the books, accounts, and records shall be made available for examination, inspection, and copying by the Real Estate Commissioner or his or her designated representative during regular business hours, and shall, upon the appearance of sufficient cause, be subject to audit without further notice, except that the audit shall not be harassing in nature. Existing law provides that any person who willfully violates or knowingly participates in the violation of these provisions is guilty of a misdemeanor with specified penalties. This bill would, in addition, authorize the Bureau of Real Estate to suspend or revoke the license of any real estate broker, real estate salesperson, or corporation licensed as a real estate broker, if the real estate broker, real estate salesperson, or any director, officer, employee, or agent of the corporation licensed as a real estate broker knowingly destroys, alters, conceals, mutilates, or falsifies any of the books, papers, writings, documents, or tangible objects that are required to be maintained and provided pursuant to notice, as described above, or that have been sought in connection with an investigation, audit, or examination, as specified.