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Financial Code - FIN - FIN § 17202.1

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 17202, deposit with the commissioner a cash bond in the sum specified in Section 17202. Evidence of the cash bond shall be a deposit in the

Financial Code - FIN - FIN § 17203

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 all the rules made by the commissioner under this division. The bond shall be conditioned that the licensee will honestly and faithfully

Financial Code - FIN - FIN § 17203.1

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 escrow agent or in the possession of the escrow agent in the regular discharge of their duties, or persons who d

Financial Code - FIN - FIN § 17205

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 or default complained of occurs.

Financial Code - FIN - FIN § 17206

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 of any action on the bond, the licensee shall file a new bond. Failure to file a new bond within 10 days of the recovery on a bond, or wi

Financial Code - FIN - FIN § 17207

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 the first office or location and four hundred twenty-five dollars ($425) for each additional offic

Financial Code - FIN - FIN § 17208

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 for the sole purpose of administering and enforcing this division.

Financial Code - FIN - FIN § 17209

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 be accompanied by a certified copy of the articles of incorporation and a copy of the bylaws of the proposed licensee. The applicatio

Financial Code - FIN - FIN § 17209.1

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 with the proposal, including but not limited to its stockholders, directors, officers and managers, proposed lo

Financial Code - FIN - FIN § 17209.2

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 before 10 days prior to the hearing, mail notice thereof to the applicant. At such hearing any interested person may show cause either in f

Financial Code - FIN - FIN § 17209.3

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 examination and investigation, and after appropriate hearing, the commissioner finds any of the following: (a) That the corporati

Financial Code - FIN - FIN § 17209.4

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17209.4

The license shall state whether the licensee is licensed as an escrow agent or joint control agent.

Financial Code - FIN - FIN § 1721

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 1721

No license is transferable or assignable.

Financial Code - FIN - FIN § 17210

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 liquid assets of at least twenty-five thousand dollars ($25,000) in excess of current liabilities. (b) An escrow agent license

Financial Code - FIN - FIN § 17210.1

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17210.1

The license shall be kept conspicuously posted in all places of business of the licensee.

Financial Code - FIN - FIN § 17210.2

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 deceptive, or which omits to state material information, or which refers to the supervision of that agent by the

Financial Code - FIN - FIN § 17212.1

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 indirectly compensated by the escrow agent (other than usual and customary employees who file pu

Financial Code - FIN - FIN § 17213

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 filed with the commissioner. (b) An escrow agent’s license is not transferable or assignable. Further, no license may be acquired

Financial Code - FIN - FIN § 17213.1

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 notice of any intended change shall be transmitted to the commissioner not less than 30 days prior to the date of the intended

Financial Code - FIN - FIN § 17213.2

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 of the commissioner to forfeit to the people of the state a sum of up to one hundred dollars ($100) for every day for

Financial Code - FIN - FIN § 17213.5

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 the intended address, or addresses. (b) Payment of the fees prescribed in Section 17207. (c) Filing w

Financial Code - FIN - FIN § 17214

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17214

(a) There is established in the Department of Financial Protection and Innovation an Escrow Law Advisory Committee consisting of 11 members. The members shall consist of the commissioner or their designee; the chairman of the board and the immediate past chairman of the board for

Financial Code - FIN - FIN § 17215

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 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 provisions and purposes of this division and, with respect to Internet escrow agents, are also consistent with the i

Financial Code - FIN - FIN § 173

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 173

(a) “Foreign,” when used with respect to a bank, an office of a bank, or any corporation other than a bank, means foreign (other nation) or foreign (other state). (b) “Foreign banking corporation” means a foreign bank.

Financial Code - FIN - FIN § 17300

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17300

“Fidelity Corporation” means the Escrow Agents’ Fidelity Corporation.