Broker License Application
The following is a summary of the requirements and procedures for obtaining a California Yacht and Ship Broker License.
Minimum Qualifications to Apply
Be at least 18 years of age; and
Employed as a licensed California Yacht Broker or Salesperson for at least one year in the past five years; or
Beginning January 1, 1998) Have owned and operated a marine business in California selling new or used yachts for a minimum of three continuous years immediately preceding application for a broker license. ["Yacht" refers to vessels 16 feet or longer and under 300 gross tons]; and have an established place of business located in California (post office box, mail drop or telephone answering service is not a "Place of Business").
Only for Out-of-State Applicants
Have been employed, as the primary occupation, as a yacht broker or yacht salesperson in another state for a minimum of three continuous years immediately preceding application for a California broker license. ["Broker" refers to a person who, under a consignment agreement, negotiates the purchase, sale, lease, or exchange of (used) yachts and who does not own the vessels.]
Yacht and Ship Broker License Application
Yacht and Ship Broker Surety Bond Form and Instruction Sheet (instructions for posting a Certificate of Deposit or Share Account in lieu of the surety bond may be obtained upon request.)
Applicant Fingerprint Live-Scan form(s) (only for new and used yacht dealer and out-of-state applicants).
Consent to disclosure of federal tax information form (only for out-of-state applicants).
$200 Original License
$25 Written examination
Federal income tax returns
Applicant is required to consent to disclosure of federal income tax returns for the preceding three years.
Total fees are due with the completed application.
Along with the fees and completed application, you must include a current 2"x2", head-and-shoulders, face-view photograph without head covering or dark sunglasses, taken of yourself within one year prior to date of application. Digitized photos are unacceptable.
Upon receipt of the completed application form(s) and appropriate fees, the Division will process your application. A copy of the Yacht and Ship Brokers Act, including the applicable California Code of Regulations and additional information regarding the subject matter covered in the written examination, will be forwarded to you along with the date and location of the examination for which you are scheduled.
After fulfilling all applicable application requirements, obtaining a passing score of at least 70% on the written examination, and the filing of an acceptable surety bond or cash deposit, a one-year license will be issued. Thereafter, the license can be renewed for either one or two years.
For more information, please call Monique Cabral at (916) 327-1847 or write to DBW.