Real estate licensees: fictitious business names: team names.

Existing law provides for the licensure and regulation of real estate brokers and real estate salespersons by the Bureau of Real Estate headed by the Real Estate Commissioner. Existing law requires an applicant who desires to have his or her license issued under a fictitious business name to file with his or her application a certified copy of his or her fictitious business name statement. Existing law authorizes a responsible broker, as defined, by contract, to permit a salesperson to apply for a fictitious business name with the appropriate county, and to maintain ownership of a fictitious business name. Existing law defines a team name and provides, for purposes of the provisions described above, that a team name is not a fictitious business name if specified criteria apply. This bill would provide that a team name is also not a fictitious business name for purposes of any other law or for purposes of filing a fictitious business name statement with an application as described above when the criteria apply. This bill would make technical and clarifying changes to the provisions described above. Existing law requires advertising and solicitation materials using a fictitious business name or that contain a team name to display the responsible broker's identity, as provided. Existing law defines "responsible broker's identity" to mean the name under which the responsible broker operates or conducts business. This bill would revise the definition of "responsible broker's identity" to mean a name and the associated license identification number under which the responsible broker is currently licensed and conducts business in general or is a substantial division of the real estate firm and that does not include a fictitious business name or a team name, as specified. This bill would declare that it is to take effect immediately as an urgency statute.