California Financial Code CHAPTER 2 - License and Bond

• Section 17200.
  It shall be unlawful for any person to engage in business as an escrow agent within this state except by means of a corporation duly...
• Section 17200.8.
  (a) Within the organization of each escrow agent corporation, either as an owner, officer, or employee, there shall be one or more persons possessing a minimum...
• Section 17201.
  (a) An application for a license as an escrow agent shall be in writing and in such form as is prescribed by the commissioner. The application...
• Section 17202.
  (a) At the time of filing an application for an escrow agent’s license, the applicant shall deposit with the commissioner a bond satisfactory to the commissioner...
• Section 17202.1.
  An applicant for an escrow agent’s license or a licensee may, in lieu of and subject to the same conditions as the bond required by...
• Section 17203.
  The bond of an escrow agent shall be conditioned that the licensee will faithfully conform to and abide by the provisions of this division and...
• Section 17203.1.
  (a) All officers, directors, trustees, and employees of an escrow agent, whether or not compensated, who have access to money or negotiable securities belonging to the...
• Section 17205.
  No action may be brought on an escrow agent’s bond by any person after the expiration of two years from the time when the act...
• Section 17206.
  When an action is commenced on an escrow agent’s bond the commissioner may require the filing of a new bond, and immediately upon the recovery...
• Section 17207.
  The commissioner shall charge and collect the following fees and assessments:(a) For filing an application for an escrow agent’s license, six hundred twenty-five dollars ($625) for...
• Section 17208.
  All money received by the commissioner shall be paid by him or her into the State Treasury to the credit of the State Corporations Fund...
• Section 17209.
  An application for a license as an escrow agent shall be signed and verified by an authorized officer of the applicant, and such application shall...
• Section 17209.1.
  Upon the receipt of a proper and complete application for license, and all required fees, the commissioner shall immediately examine and investigate all facts connected...
• Section 17209.2.
  The commissioner may or may not require an applicant to submit to an appropriate hearing. If a hearing is held the commissioner shall, on or...
• Section 17209.3.
  The commissioner may refuse to issue any license being applied for, and shall refuse to issue any license being applied for if upon the commissioner’s...
• Section 17209.4.
  The license shall state whether the licensee is licensed as an escrow agent or joint control agent.(Added by Stats. 1982, Ch. 663, Sec. 8.)
• Section 17210.
  (a) An escrow agent licensed on or after January 1, 1986, shall maintain at all times a tangible net worth of fifty thousand dollars ($50,000), including...
• Section 17210.1.
  The license shall be kept conspicuously posted in all places of business of the licensee.(Added by Stats. 1953, Ch. 1076.)
• Section 17210.2.
  (a) No escrow agent shall disseminate, or cause or permit to be disseminated, in any manner whatsoever, any statement or representation which is false, misleading, or...
• Section 17212.1.
  All licensees shall notify the commissioner of any changes in shareholders, directors, officers, trustees, managers, and other persons participating in the escrow business directly or...
• Section 17213.
  (a) An escrow agent shall not transact business pursuant to this division under any other name than that set forth in the articles of incorporation as...
• Section 17213.1.
  (a) An escrow agent’s business shall not be removed from the premises or address shown on the license without the prior approval of the commissioner, and...
• Section 17213.2.
  The commissioner may order a licensed escrow agent which opens a branch office or changes its business location or locations without first obtaining the approval...
• Section 17213.5.
  Licensees of this division shall be entitled to establish additional business office locations by compliance with all of the following:(a) Filing with the commissioner notice of...
• Section 17214.
  (a) There is established in the Department of Business Oversight an Escrow Law Advisory Committee consisting of 11 members. The members shall consist of the commissioner...
• Section 17215.
  Whenever the commissioner issues a license or order under this division, the commissioner may impose conditions that are necessary and appropriate to carry out the...

Last modified: October 22, 2018