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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Doesn't apply to a n officer/owner or partner/owner Posted by Ward-CA- on November 12, 2003 at 4:55 PM In Reply to: Civil Code 1695.17 clarification posted by Awsmjohn on November 12, 2003 at 12:13 AM : Civil Code Section 1695.17 states that agents and/ or employees of an equity purchaser must (a) hold a a valid CA RE license and (b} surety bonding (which you can't buy) of twice the value your are negotiating for. Question is, does this effectively prohibit either a partnership or corporation from equity purchasing? A corporation or partnership cannot act except by their agents. 10133 of B&P codes exempts licenses for acts of agent on behalf of corporations or partnerships for which there is no special compensation but how abour equity purchases? Help please, we have a small group that wants to invest but doesn't want to be sued for it! =?=?=?=?=?=?=?=?=?=?= No, because an officer/owner of a corporation or a partner/owner of a partnership are considered principals rather than an agent of such entities. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Civil Code Section 1695.17 states that agents and/ or employees of an equity purchaser must (a) hold a a valid CA RE license and (b} surety bonding (which you can't buy) of twice the value your are negotiating for. Question is, does this effectively prohibit either a partnership or corporation from equity purchasing? A corporation or partnership cannot act except by their agents. 10133 of B&P codes exempts licenses for acts of agent on behalf of corporations or partnerships for which there is no special compensation but how abour equity purchases? Help please, we have a small group that wants to invest but doesn't want to be sued for it! : =?=?=?=?=?=?=?=?=?=?= : No, because an officer/owner of a corporation or a partner/owner of a partnership are considered principals rather than an agent of such entities. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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