California Financial Code ARTICLE 4 - General Provisions

• Section 17330.
  Any member or successor in interest who suffers a loss may file a claim with Fidelity Corporation for the amount of the loss.(Amended by Stats....
• Section 17331.
  (a) An applicant applying for licensure as an escrow agent under this division is required to apply for a Fidelity Corporation Certificate, prepared and issued by...
• Section 17331.1.
  (a) Any person not previously issued a certificate must, upon employment with an escrow agent within this state, apply to Fidelity Corporation for a certificate. The...
• Section 17331.2.
  (a) Fidelity Corporation shall deny the application for a certificate or revoke the certificate of any person, upon any of the following grounds:(1) The application contains a...
• Section 17331.3.
  (a) Notice to the person, and to the member with whom the person is employed, of the decision to deny an application for or to revoke...
• Section 17332.
  When either Fidelity Corporation or the insurer providing the fidelity bond or insurance policy, if any, under Section 17310, or both, pay an obligation on...
• Section 17333.
  The commissioner may forthwith upon written notice and order take possession of the property and business of Fidelity Corporation and retain possession until Fidelity Corporation...
• Section 17334.
  Whenever the commissioner has taken possession of the property and business of Fidelity Corporation, Fidelity Corporation within 10 business days after the taking, if it...
• Section 17335.
  An appeal may be taken from the judgment of the court by the commissioner or by Fidelity Corporation in the manner provided by law for...
• Section 17336.
  (a) Fidelity Corporation shall have independent authority to investigate claims filed by members pursuant to Section 17330.(b) Fidelity Corporation, upon submitting written notice to the commissioner, may...
• Section 17337.
  Fidelity Corporation may invest its funds only as provided by rules of the commissioner adopted with a view to preserving reasonable liquidity.Upon request of the...
• Section 17339.
  Prior to incurring any extraordinary or nonrecurring expense, Fidelity Corporation shall first obtain the written consent of the commissioner.(Amended by Stats. 1988, Ch. 1458, Sec....
• Section 17340.
  In the event the board of directors of Fidelity Corporation deem it necessary and prudent to raise additional moneys for payment of claims or expenses...
• Section 17341.
  The commissioner shall give prompt notice to Fidelity Corporation when the commissioner takes possession of the property and business of a member and shall give...
• Section 17342.
  Memberships issued by Fidelity Corporation shall be nontransferable and shall be exempt from the provisions of the Corporate Securities Law of 1968.(Amended by Stats. 1985,...
• Section 17343.
  No provision of the Insurance Code shall apply to Fidelity Corporation.(Amended by Stats. 1985, Ch. 1560, Sec. 31. Effective October 2, 1985.)
• Section 17344.
  The operation of Fidelity Corporation shall at all times be subject to the regulation of the commissioner and the commissioner’s duly designated representatives. The commissioner...
• Section 17345.
  Any member aggrieved by any action or decision of Fidelity Corporation may appeal to the commissioner within 30 days from the action or decision, except...
• Section 17345.1.
  (a) A member or successor in interest aggrieved by any action or decision of Fidelity Corporation may file a written request for a hearing with the...
• Section 17346.
  (a) Fidelity Corporation and its members shall not advertise, print, display, publish, distribute, or broadcast, or cause or permit to be advertised, printed, displayed, published, distributed,...
• Section 17347.
  (a) The Secretary of State shall not file articles for the incorporation of Fidelity Corporation or an amendment to the articles unless the commissioner has issued...
• Section 17348.
  In order to permit Fidelity Corporation to fulfill its obligation under this chapter, the commissioner shall furnish a list of all persons licensed under this...
• Section 17349.
  If Fidelity Corporation is dissolved, subject to the approval of the commissioner, the net assets after settling all liabilities shall be distributed to the members...
• Section 17350.
  All costs and expenses incurred by the commissioner in the administration of this chapter shall be paid to the commissioner by Fidelity Corporation. The limitation...

Last modified: October 22, 2018