California Business and Professions Code

§ 7071.20

BPC § 7071.20 Effective Jan 1, 2019Div. 3 · Ch. 9 · Art. 5

Statute text

(a)A licensee shall report to the registrar in writing within 90 days after the licensee has knowledge of any civil action resulting in a final judgment, executed settlement agreement, or final arbitration award in which the licensee is named as a defendant or cross-defendant, filed on or after January 1, 2019, that meets all of the following criteria:

(1)The action alleges fraud, deceit, negligence, breach of contract or express or implied warranty, misrepresentation, incompetence, recklessness, wrongful death, or strict liability by the act or omission of a licensee while acting in the capacity of a contractor, whether as a general contractor or as a specialty contractor.

(2)The amount or value of the judgment, settlement payment, or arbitration award for which the licensee is named as a defendant or cross-defendant, is one million dollars ($1,000,000) or greater, not including investigative costs or prior repairs performed by the licensee.

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Legislative history

Added by Stats. 2018, Ch. 514, Sec. 1. (SB 1465) Effective January 1, 2019.