Real Estate Finance Committee Hyatt Regency Hotel Shoreline Room A/B Long Beach, CA Thursday, October 19, 2006 9:00 AM – 11:30 AM
Please Note: Only the C.A.R. Board of Directors may take action on behalf of the California Association of REALTORS®; not individual committees. The Summary of Action Items for the Board of Directors may be found athttp://www.car.org/index.php?id=MzY3MjE. The archive section for each committee, including meeting materials for each committee, may be found at https://www.car.org/index.php?id=MjMy. Set out below is a summary of Real Estate Finance Committee activity, including the additional action on those items (if any) by other C.A.R. bodies.
CALL TO ORDER
The Chair convened the meeting of the Real Estate Finance Committee at 9:00 AM.
AGENDA ITEMSAll agenda items were discussed as listed.ACTION ITEM – Alternative Forms of ConsumerProtection:
A motion was made and seconded:That C.A.R. “SPONSOR” legislation to allow alternative forms of consumer protection, such as access to the Real Estate Recovery fund or maintenance of “E&O” insurance, as a substitute for the bond required for agents of equity purchasers.Real Estate Finance Committee: Approved Legislative Committee: Approved Executive Committee: Approved Boardof Directors: Approved