California Code
Financial Code - FIN
DIVISION 6 - ESCROW AGENTS

CHAPTER 1 - Application of This Division

Section 17000. - 17000. This division is known and may be cited as...

Section 17001. - 17001. Unless the context otherwise requires, the definitions set forth...

Section 17002. - 17002. “Commissioner” means the Commissioner of Financial Protection and Innovation....

Section 17002.5. - 17002.5. “Person” means, in addition to the singular, persons, group...

Section 17003. - 17003. (a) “Escrow” means any transaction in which one person,...

Section 17004. - 17004. “Escrow agent” means any person engaged in the business...

Section 17004.5. - 17004.5. “Internet escrow agent” means any person engaged in the...

Section 17005. - 17005. “Licensee” means any person holding a valid, unrevoked license...

Section 17005.1. - 17005.1. “Joint control agent” means a person engaging in the...

Section 17005.2. - 17005.2. “Business location” and “business office location” mean a facility...

Section 17005.3. - 17005.3. “Customer contact center” means a facility operated by an...

Section 17005.4. - 17005.4. “Person subject to this division” means any person undertaking...

Section 17005.5. - 17005.5. “Within this state” means any activity of a person...

Section 17005.6. - 17005.6. Except as provided for in Section 17004, “escrow agent”...

Section 17006. - 17006. (a) This division does not apply to: (1) Any...

Section 17006.5. - 17006.5. In any proceeding under this law, the burden of...

Section 17008. - 17008. No foreign corporation shall transact any escrow business in...

Section 17009. - 17009. The commissioner shall forward by prepaid registered mail a...

Section 17010. - 17010. The commissioner shall collect from the plaintiff at the...

CHAPTER 2 - License and Bond

Section 17200. - 17200. It shall be unlawful for any person to engage...

Section 17200.8. - 17200.8. (a) Within the organization of each escrow agent corporation,...

Section 17201. - 17201. (a) An application for a license as an escrow...

Section 17202. - 17202. (a) At the time of filing an application for...

Section 17202.1. - 17202.1. An applicant for an escrow agent’s license or a...

Section 17203. - 17203. The bond of an escrow agent shall be conditioned...

Section 17203.1. - 17203.1. (a) All officers, directors, trustees, and employees of an...

Section 17205. - 17205. No action may be brought on an escrow agent’s...

Section 17206. - 17206. When an action is commenced on an escrow agent’s...

Section 17207. - 17207. The commissioner shall charge and collect the following fees...

Section 17208. - 17208. All money received by the commissioner shall be paid...

Section 17209. - 17209. An application for a license as an escrow agent...

Section 17209.1. - 17209.1. Upon the receipt of a proper and complete application...

Section 17209.2. - 17209.2. The commissioner may or may not require an applicant...

Section 17209.3. - 17209.3. The commissioner may refuse to issue any license being...

Section 17209.4. - 17209.4. The license shall state whether the licensee is licensed...

Section 17210. - 17210. (a) An escrow agent licensed on or after January...

Section 17210.1. - 17210.1. The license shall be kept conspicuously posted in all...

Section 17210.2. - 17210.2. (a) No escrow agent shall disseminate, or cause or...

Section 17212.1. - 17212.1. All licensees shall notify the commissioner of any changes...

Section 17213. - 17213. (a) An escrow agent shall not transact business pursuant...

Section 17213.1. - 17213.1. (a) An escrow agent’s business shall not be removed...

Section 17213.2. - 17213.2. The commissioner may order a licensed escrow agent which...

Section 17213.5. - 17213.5. Licensees of this division shall be entitled to establish...

Section 17214. - 17214. (a) There is established in the Department of Financial...

Section 17215. - 17215. Whenever the commissioner issues a license or order under...

CHAPTER 2.5 - Escrow Agents Fidelity Corporation

ARTICLE 1 - Definitions

Section 17300. - 17300. “Fidelity Corporation” means the Escrow Agents’ Fidelity Corporation. (Amended...

Section 17301. - 17301. “Member” means any person licensed under this division who...

Section 17302. - 17302. “Trust obligation” means: (a) All money and property deposited...

Section 17303. - 17303. “Commissioner” means the Commissioner of Financial Protection and Innovation....

Section 17304. - 17304. “Loss,” within the meaning of this chapter, means the...

Section 17305. - 17305. “Monthly average escrow liability,” as used in this chapter,...

ARTICLE 2 - Purpose: Scope of Guarantee

Section 17310. - 17310. (a) It shall be the purpose of Fidelity Corporation...

Section 17311. - 17311. (a) Persons licensed pursuant to this division shall maintain...

Section 17312. - 17312. (a) Each person licensed pursuant to this division who...

Section 17313. - 17313. The commissioner shall review and approve the articles of...

Section 17313.1. - 17313.1. The fiscal year of Fidelity Corporation shall commence on...

Section 17314. - 17314. (a) Fidelity Corporation shall pay a member for loss...

Section 17314.1. - 17314.1. (a) Notwithstanding any other provision of this article, Fidelity...

Section 17314.2. - 17314.2. Claims filed prior to the effective date of this...

Section 17314.3. - 17314.3. (a) A deductible shall apply to each loss suffered...

Section 17315. - 17315. The commissioner may establish rules which are reasonable and...

ARTICLE 3 - Membership Fee and Assessments

Section 17320. - 17320. Fidelity Corporation shall establish and maintain the following funds...

Section 17321. - 17321. Fidelity Corporation shall bill and collect from each member...

Section 17321.1. - 17321.1. Fidelity Corporation shall levy a special assessment against its...

Section 17321.2. - 17321.2. Fidelity Corporation shall be entitled to collect late fees...

Section 17322. - 17322. Fidelity Corporation shall report to the commissioner each levy...

Section 17323. - 17323. (a) In the event any member fails to pay...

Section 17324. - 17324. Any reduction in the membership fund caused by payment...

ARTICLE 4 - General Provisions

Section 17330. - 17330. Any member or successor in interest who suffers a...

Section 17331. - 17331. (a) An applicant applying for licensure as an escrow...

Section 17331.1. - 17331.1. (a) Any person not previously issued a certificate must,...

Section 17331.2. - 17331.2. (a) Fidelity Corporation shall deny the application for a...

Section 17331.3. - 17331.3. (a) Notice to the person, and to the member...

Section 17332. - 17332. When either Fidelity Corporation or the insurer providing the...

Section 17333. - 17333. The commissioner may forthwith upon written notice and order...

Section 17334. - 17334. Whenever the commissioner has taken possession of the property...

Section 17335. - 17335. An appeal may be taken from the judgment of...

Section 17336. - 17336. (a) Fidelity Corporation shall have independent authority to investigate...

Section 17337. - 17337. Fidelity Corporation may invest its funds only as provided...

Section 17339. - 17339. Prior to incurring any extraordinary or nonrecurring expense, Fidelity...

Section 17340. - 17340. In the event the board of directors of Fidelity...

Section 17341. - 17341. The commissioner shall give prompt notice to Fidelity Corporation...

Section 17342. - 17342. Memberships issued by Fidelity Corporation shall be nontransferable and...

Section 17343. - 17343. No provision of the Insurance Code shall apply to...

Section 17344. - 17344. The operation of Fidelity Corporation shall at all times...

Section 17345. - 17345. Any member aggrieved by any action or decision of...

Section 17345.1. - 17345.1. (a) A member or successor in interest aggrieved by...

Section 17346. - 17346. (a) Fidelity Corporation and its members shall not advertise,...

Section 17347. - 17347. (a) The Secretary of State shall not file articles...

Section 17348. - 17348. In order to permit Fidelity Corporation to fulfill its...

Section 17349. - 17349. If Fidelity Corporation is dissolved, subject to the approval...

Section 17350. - 17350. All costs and expenses incurred by the commissioner in...

CHAPTER 3 - Escrow Regulations

Section 17400. - 17400. The commissioner may from time to time make, amend,...

Section 17402. - 17402. No person subject to this division or any officer...

Section 17403. - 17403. (a) No person subject to this division shall issue,...

Section 17403.1. - 17403.1. No person subject to this division shall describe as...

Section 17403.2. - 17403.2. (a) No person subject to this division shall solicit...

Section 17403.3. - 17403.3. (a) At the time of execution a copy of...

Section 17403.4. - 17403.4. All written escrow instructions and all escrow instructions transmitted...

Section 17403.5. - 17403.5. (a) All records required by this chapter may be...

Section 17404. - 17404. Every person subject to this division shall keep and...

Section 17405. - 17405. (a) The business, accounts and records of every person...

Section 17405.1. - 17405.1. The cost of every inspection and examination of a...

Section 17406. - 17406. (a) Each licensee shall submit to the commissioner, at...

Section 17406.1. - 17406.1. (a) Whenever the reports and financial statements required pursuant...

Section 17408. - 17408. (a) If any person subject to this division fails...

Section 17409. - 17409. (a) All moneys deposited in escrow to be delivered...

Section 17409.1. - 17409.1. (a) Each person subject to this chapter shall maintain...

Section 17410. - 17410. (a) Escrow or trust funds are not subject to...

Section 17411. - 17411. No person shall knowingly keep or cause to be...

Section 17411.1. - 17411.1. “Trust funds” or “escrow accounts” as used in Sections...

Section 17414. - 17414. (a) It is a violation for any person subject...

Section 17414.1. - 17414.1. (a) Any person who has been convicted of or...

Section 17414.2. - 17414.2. (a) In response to any written request by an...

Section 17415. - 17415. (a) If the commissioner, as a result of any...

Section 17416. - 17416. Whenever in the opinion of the commissioner any person,...

Section 17419. - 17419. On and after January 1, 1992, any person seeking...

Section 17420. - 17420. Except for the normal compensation of his own employees,...

Section 17421. - 17421. Notwithstanding the provisions of Section 17420, a disbursal, other...

Section 17421.5. - 17421.5. (a) Notwithstanding Section 17420, a licensee may charge a...

Section 17422. - 17422. A joint control agent, unless acting pursuant to written...

Section 17423. - 17423. (a) The commissioner may, after appropriate notice and opportunity...

Section 17423.1. - 17423.1. (a) (1) Whenever the commissioner takes any enforcement or...

Section 17424. - 17424. (a) For any licensee, a disciplinary action taken by...

Section 17425. - 17425. Any person subject to this division or any director,...

CHAPTER 4 - Revocation of License

Section 17600. - 17600. (a) An escrow agent’s license remains in effect until...

Section 17601. - 17601. If the commissioner has reason to believe that any...

Section 17602. - 17602. If it appears to the commissioner that any licensed...

Section 17602.5. - 17602.5. If any licensed escrow agent fails to make any...

Section 17603. - 17603. If it appears to the commissioner that any licensed...

Section 17604. - 17604. No order issued pursuant to Sections 17602 or 17603...

Section 17605. - 17605. The licensed escrow agent has ten (10) days after...

Section 17606. - 17606. The commissioner may immediately revoke by order the escrow...

Section 17606.1. - 17606.1. The license of an escrow agent shall be deemed...

Section 17607. - 17607. (a) Whenever it appears to the commissioner that any...

Section 17608. - 17608. The commissioner may, after notice and a reasonable opportunity...

Section 17609. - 17609. The revocation, suspension, surrender or expiration of an escrow...

Section 17609.1. - 17609.1. The power of investigation and examination by the commissioner...

Section 17609.2. - 17609.2. Whenever the commissioner deems it necessary for the general...

CHAPTER 5 - Hearings

Section 17610. - 17610. The commissioner, and all persons designated by him, may...

Section 17611. - 17611. (a) The commissioner may make such investigations as he...

Section 17612. - 17612. The authority to make or conduct any examination, investigation,...

Section 17613. - 17613. All hearings provided for in this division shall be...

Section 17614. - 17614. Every order, decision, license or other official act of...

CHAPTER 6 - Liquidation and Conservatorship

ARTICLE 1 - Possession by Commissioner

Section 17621. - 17621. Whenever it appears to the commissioner that any escrow...

Section 17622. - 17622. Whenever the commissioner has taken possession of any licensee,...

Section 17623. - 17623. An appeal from a judgment enjoining the commissioner from...

Section 17625. - 17625. If the commissioner’s demand for the possession of the...

Section 17626. - 17626. When the commissioner takes possession of the property, business...

Section 17627. - 17627. The commissioner may issue subpoenas and require the attendance...

Section 17628. - 17628. When the commissioner takes possession of the business, property,...

Section 17629. - 17629. When the commissioner takes possession of the property, business,...

ARTICLE 2 - Conservatorship

Section 17630. - 17630. If any facts occur which would entitle the commissioner...

Section 17631. - 17631. Subject to the other provisions of this article, a...

Section 17632. - 17632. Upon appointing a conservator the commissioner shall cause to...

Section 17633. - 17633. A conservator, while in possession of the property, business...

Section 17634. - 17634. If the commissioner becomes satisfied that it may be...

ARTICLE 3 - Liquidation by the Commissioner

Section 17635. - 17635. If at any time after taking possession of the...

Section 17636. - 17636. Whenever the commissioner has taken possession of the property...

Section 17637. - 17637. The commissioner may appoint one or more special deputies...

Section 17638. - 17638. In liquidating the affairs of a licensee the commissioner...

Section 17639. - 17639. After the issuance of an order of liquidation under...

Section 17640. - 17640. If the commissioner is in possession of the business,...

Section 17641. - 17641. Claims for damages resulting from the disaffirmance of an...

Section 17642. - 17642. When the commissioner determines to liquidate a licensee, he...

Section 17643. - 17643. When the commissioner determines to liquidate a licensee he...

Section 17644. - 17644. All claims, demands, or causes of action of creditors,...

Section 17645. - 17645. Upon the expiration of the time fixed for the...

Section 17646. - 17646. Not later than five days after the time of...

Section 17647. - 17647. Regardless of any law of this state, the judges...

Section 17648. - 17648. If it appears improbable that anything can be realized...

Section 17649. - 17649. For the purpose of executing and performing any of...

Section 17650. - 17650. If any real property of the licensee sold by...

Section 17651. - 17651. When the commissioner has (a) fully liquidated all claims...

Section 17652. - 17652. Upon the payment of a final dividend in liquidation,...

Section 17653. - 17653. In making its order approving the commissioner’s final statement...

Section 17654. - 17654. The order of the court approving the final statement...

CHAPTER 7 - Crimes and Civil Penalties

Section 17700. - 17700. Any person who willfully violates any provision of this...

Section 17701. - 17701. (a) Any person who violates any provision of this...

Section 17702. - 17702. It is unlawful for any person to willfully make...

Section 17703. - 17703. (a) It is unlawful for any person to knowingly...