California Financial Code CHAPTER 1 - Application of This Division

• Section 17000.
  This division is known and may be cited as the “Escrow Law.”(Enacted by Stats. 1951, Ch. 364.)
• Section 17001.
  Unless the context otherwise requires, the definitions set forth in this chapter govern the construction of this division.(Enacted by Stats. 1951, Ch. 364.)
• Section 17002.
  “Commissioner” means the Commissioner of Business Oversight.(Amended by Stats. 2013, Ch. 353, Sec. 63. (SB 820) Effective September 26, 2013. Operative July 1, 2013, by...
• Section 17002.5.
  “Person” means, in addition to the singular, persons, group of persons, co-operative, association, company, firm, partnership, corporation, limited liability company, or other legal entity.(Amended by...
• Section 17003.
  (a) “Escrow” means any transaction in which one person, for the purpose of effecting the sale, transfer, encumbering, or leasing of real or personal property to...
• Section 17004.
  “Escrow agent” means any person engaged in the business of receiving escrows for deposit or delivery.(Amended by Stats. 1981, Ch. 773, Sec. 1.)
• Section 17004.5.
  “Internet escrow agent” means any person engaged in the business of receiving escrows for deposit or delivery over the Internet.(Added by Stats. 1999, Ch. 441,...
• Section 17005.
  “Licensee” means any person holding a valid, unrevoked license as an escrow agent.(Enacted by Stats. 1951, Ch. 364.)
• Section 17005.1.
  “Joint control agent” means a person engaging in the business of receiving money or other property for disbursal or use in payment of the cost...
• Section 17005.2.
  “Business location” and “business office location” mean a facility or other place of business where a person engages in the business of receiving an escrow...
• Section 17005.3.
  “Customer contact center” means a facility operated by an Internet escrow agent that exists solely for the purpose of responding to customer electronic messages and...
• Section 17005.4.
  “Person subject to this division” means any person undertaking the performance of escrow agent services. Unless specifically exempted, as in Section 17006, however, this definition...
• Section 17005.5.
  “Within this state” means any activity of a person relating to receiving escrows for deposit or delivery that originates from this state and is directed...
• Section 17005.6.
  Except as provided for in Section 17004, “escrow agent” as used in this division includes joint control agents and Internet escrow agents.(Amended by Stats. 1999,...
• Section 17006.
  (a) This division does not apply to:(1) Any person doing business under any law of this state or the United States relating to banks, trust companies, building...
• Section 17006.5.
  In any proceeding under this law, the burden of proving an exemption or an exception from a definition is upon the person claiming it.(Added by...
• Section 17008.
  No foreign corporation shall transact any escrow business in this State without first complying with all the requirements of this division, nor until it has...
• Section 17009.
  The commissioner shall forward by prepaid registered mail a copy of every paper served under this chapter, to the secretary of the corporation at its...
• Section 17010.
  The commissioner shall collect from the plaintiff at the time of service, the sum of two dollars ($2) for each copy of process served on...

Last modified: October 22, 2018