Deas v. Knapp

Opinion

NEWMAN, J.

Sections 10450.6 and 10470 et seq. of the Business and Professions Code create a fund, derived from real estate license fees, for payment of claims on unsatisfied judgments against licensees for fraud or conversion of trust funds in connection with licensed activities.1 Payment automatically suspends the judgment debtor’s license until he or she reimburses the fund, with interest. (§ 10475.)

Plaintiff judgment creditors, defendant Knapp, who is a real estate broker, and the Real Estate Commissioner all appeal from an order for payment. Defendant’s appeal raises the main issue…