§ 6.80.180. Deposits from units.

Latest version.

A licensee under this chapter may collect a refundable deposit not to exceed two dollars from a unit for the purpose of assuring such unit's appearance as a land sales presentation and in the event such deposit is collected shall give to the unit a receipt therefor. The receipt shall entitle the bearer thereof to a refund of amount of deposit shown on the face thereof upon presentation of the same at the land sales presentation for which such deposit was taken. In the event that such unit fails to appear at the land sales presentation for which such deposit was taken, the same shall be deemed forfeited. Each unit broker shall, at the time it pays the unit fee provided for in Section 6.80.040, pay to the department of business license an amount equal to the aggregate deposits so forfeited to it during the preceding month.

(Ord. 709 § 118, 1980: Ord. 621 § 131, 1979: Ord. 372 § 20, 1971)

                    
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