California Financial Code DIVISION 20.5 - EXCHANGE FACILITATORS

• Section 51000.
  As used in this division, the following terms shall have the following meanings:(a) “Client” means the taxpayer with whom the exchange facilitator enters into an agreement...
• Section 51001.
  (a) A person who engages in business as an exchange facilitator shall notify all existing exchange clients whose relinquished property is located in this state, or...
• Section 51003.
  (a) A person who engages in business as an exchange facilitator shall at all times comply with one or more of the following:(1) Maintain a fidelity bond...
• Section 51005.
  Any person claiming to have sustained damage by reason of the failure of a person engaging in business as an exchange facilitator to comply with...
• Section 51007.
  (a) A person who engages in business as an exchange facilitator shall at all times comply with either of the following:(1) Maintain a policy of errors and...
• Section 51009.
  (a) A person who engages in business as an exchange facilitator shall have the responsibility to act as a custodian for all exchange funds, including, but...
• Section 51011.
  A person engaged in business as an exchange facilitator shall not do any of the following:(a) Make any material misrepresentations concerning any like-kind exchange transaction that...
• Section 51013.
  A person who violates this division is subject to civil suit in a court of competent jurisdiction.(Added by Stats. 2008, Ch. 708, Sec. 2. Effective...

Last modified: October 22, 2018