Business and Professions Code section 7507.115

(a)

A licensee shall not appraise or determine the value of any collateral, whether damaged or not.

(b)

(1)Notwithstanding subdivision (a), a licensee may complete a condition report that makes a general assessment of the collateral.

(2)

A condition report does not include all damage or missing parts.

(3)

A condition report shall include the following statement: “In accordance with Section 7507.115 of the Business and Professions Code, this condition report is a general assessment of the collateral and does not include all damage or missing parts.”