2851.1. Cash Deposit Security Format.

2851.1. Cash Deposit Security Format.
The following shall constitute an acceptable format for the creation and assignment of a cash deposit to the
Commissioner pursuant to Section 10167.7 of the Code:
PREPAID RENTAL LISTING SERVICE
CASH DEPOSIT SECURITY

________________________________________________ (ASSIGNOR), a prepaid rental listing service licensee
whose principal licensed location is at:

______________________________________________________________
______________________________________________________________

hereby assigns to the Real Estate Commissioner of the State of California (ASSIGNEE) all of ASSIGNOR’S right, title
and interest in a cash deposit/certificate of deposit in the amount of _____________ ($______) identified as follows:
Name and/or Number ____________________________________

Depository/Issuer _______________________________________
Name

Address _______________________________________________
City and State __________________________________________
ASSIGNOR has applied to the Department of Real Estate of the State of California for a license to act as a prepaid
rental listing service, or for the renewal of said license, and is required by Section 10167.7 of the Business and



Professions Code to provide a cash deposit in the amount of $10,000 for each licensed location. This assignment is
made in accordance with and pursuant to Section 10167.7.
This assignment includes any and all rights arising out of insurance of the principal amount of the account by the Federal
Deposit Insurance Corporation or other insurer, but ASSIGNOR retains for himself all rights to interest earned on the
principal and all rights arising out of insurance of the unpaid interest earned on the principal amount.
ASSIGNOR hereby gives to ASSIGNEE or his duly appointed representative the authority to withdraw funds from the
account at any time without notice to ASSIGNOR for the purpose of paying unsatisfied judgments in accordance with
Section 10167.7. This authority of ASSIGNEE shall include the power to convert a Certificate of Deposit or similar
evidence of a deposit to cash as necessary to make payments for the benefit of unsatisfied judgment creditors
notwithstanding the fact that such conversion may result in an interest penalty.
The Certificate of Deposit or other certificate evidencing the above identified account shall be retained in the custody
of ASSIGNEE while this assignment remains in effect. This assignment shall remain effective until ASSIGNEE shall
determine that there is no longer any potential liability of ASSIGNOR under Section 10167.10 of the Code.

DATED_____________,20__ _______________________________
Signature of Assignor *

* If an account or certificate is in the name of a corporation, the assignment must be signed by an officer of the
corporation.