Corpus browser

Financial Code - FIN - FIN § 17403.2

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17403.2

(a) No person subject to this division shall solicit or accept an escrow instruction or amended or supplemental escrow instruction containing any blank to be filled in after signing or initialing of the escrow instruction or amended or supplemental escrow instruction, nor permit

Financial Code - FIN - FIN § 17403.3

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17403.3

(a) At the time of execution a copy of each escrow instruction or amended or supplemental escrow instruction shall be delivered to all persons executing the same. (b) Internet escrow agents shall deliver electronically over the Internet a copy of each executed escrow instruction

Financial Code - FIN - FIN § 17403.4

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17403.4

All written escrow instructions and all escrow instructions transmitted electronically over the Internet executed by a buyer or seller, whether prepared by a person subject to this division or by a person exempt from this division under Section 17006, shall contain a statement in

Financial Code - FIN - FIN § 17403.5

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17403.5

(a) All records required by this chapter may be retained by an Internet escrow agent and provided to the commissioner in electronic format. (b) All transfers by an Internet escrow agent between trust accounts and interest-bearing accounts, and between escrow accounts, may be made

Financial Code - FIN - FIN § 17404

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17404

Every person subject to this division shall keep and use in its business, books, accounts, and records which will properly enable the commissioner to determine whether the escrow functions performed by such person comply with the provisions of this division and with all rules mad

Financial Code - FIN - FIN § 17405

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17405

(a) The business, accounts and records of every person performing as an escrow agent, whether required to be licensed under this division or not, are subject to inspection and examination by the commissioner at any time without prior notice. The provisions of this section shall n

Financial Code - FIN - FIN § 17405.1

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17405.1

The cost of every inspection and examination of a licensee or other person subject to this division shall be paid to the commissioner by the licensee or person examined, and the commissioner may maintain an action for the recovery of these costs in any court of competent jurisdic

Financial Code - FIN - FIN § 17406

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17406

(a) Each licensee shall submit to the commissioner, at the licensee’s own expense, an audit report containing audited financial statements covering the calendar year or, if the licensee has an established fiscal year, then for that fiscal year, within 105 days after the close of

Financial Code - FIN - FIN § 17406.1

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17406.1

(a) Whenever the reports and financial statements required pursuant to subdivision (a), (b), or (c) of Section 17406 are to be reported upon or certified by an accountant other than the accountant reporting upon or certifying the licensee’s most recent reports or financial statem

Financial Code - FIN - FIN § 17408

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17408

(a) If any person subject to this division fails to make any report required by law or by the commissioner, the commissioner may immediately cause the books, records, papers, and affairs of said person to be thoroughly examined. (b) The commissioner may impose, by order, a penalt

Financial Code - FIN - FIN § 17409

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17409

(a) All moneys deposited in escrow to be delivered upon the close of the escrow or upon any other contingency shall be deposited and maintained in a noninterest-bearing demand or checking account in a bank, a state or federal savings bank, or a state or federal savings associatio

Financial Code - FIN - FIN § 17409.1

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17409.1

(a) Each person subject to this chapter shall maintain separate escrow trust accounts for each licensed location. Transfers between accounts are prohibited except by the actual writing of a check from one escrow to the other, and by depositing the check for the account of, and th

Financial Code - FIN - FIN § 17410

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17410

(a) Escrow or trust funds are not subject to enforcement of a money judgment arising out of any claim against the licensee or person acting as escrow agent, and in no instance shall such escrow or trust funds be considered or treated as an asset of the licensee or person performi

Financial Code - FIN - FIN § 17411

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17411

No person shall knowingly keep or cause to be kept any funds or money in any bank or state or federal savings and loan association under the heading of “trust funds” or “escrow accounts” or any other name designating such funds or money as belonging to the clients of any escrow a

Financial Code - FIN - FIN § 17411.1

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17411.1

“Trust funds” or “escrow accounts” as used in Sections 17409, 17410, and 17411 shall include all funds required to be held by an escrow agent pursuant to a federal or state law, or requirement of a governmental agency.

Financial Code - FIN - FIN § 17414

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17414

(a) It is a violation for any person subject to this division or any director, stockholder, trustee, officer, agent, or employee of any such person to do any of the following: (1) Knowingly or recklessly disburse or cause the disbursal of escrow funds otherwise than in accordance

Financial Code - FIN - FIN § 17414.1

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17414.1

(a) Any person who has been convicted of or pleaded nolo contendere to any crime specified in subdivision (b) within the past 10 years, or has been held liable in any civil action by final judgment or any administrative judgment by any public agency within the past 7 years, of an

Financial Code - FIN - FIN § 17414.2

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17414.2

(a) In response to any written request by an escrow agent or by Fidelity Corporation, any bank, savings association, credit union, any other financial institution, or any other exempt person specified in Section 17006, an escrow agent or Fidelity Corporation may provide a written

Financial Code - FIN - FIN § 17415

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17415

(a) If the commissioner, as a result of any examination or from any report made to the commissioner, shall find that any person subject to this division is in an insolvent condition, is conducting or has conducted escrow business in such an unsafe or injurious manner as to render

Financial Code - FIN - FIN § 17416

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17416

Whenever in the opinion of the commissioner any person, except as named in Section 17006, is engaged, either actually or through subterfuge, in the business of receiving escrows for deposit or delivery as defined in this division, without a license from the commissioner the commi

Financial Code - FIN - FIN § 17419

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17419

On and after January 1, 1992, any person seeking employment with an escrow agent shall complete an employment application on or before the first day of employment which includes, at least, the following information. A copy of the employment application shall be forwarded to the c

Financial Code - FIN - FIN § 17420

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17420

Except for the normal compensation of his own employees, it shall be a violation of this division for any person subject to this division to pay over to any other person any commission, fee, or other consideration as compensation for referring, soliciting, handling, or servicing

Financial Code - FIN - FIN § 17421

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17421

Notwithstanding the provisions of Section 17420, a disbursal, other than for a fee, commission or compensation may be advanced or paid out prior to the close of an escrow if the written instructions of all parties to the transaction so provide.

Financial Code - FIN - FIN § 17421.5

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17421.5

(a) Notwithstanding Section 17420, a licensee may charge a fee for administering an escrow that has been postponed for at least two months from the most recent closing date agreed upon by the parties in the written instructions or has been canceled if all of the following require

Financial Code - FIN - FIN § 17422

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 17422

A joint control agent, unless acting pursuant to written instructions of his principals, shall not disburse funds for the payment of the cost of labor, materials, services, permits, fees, or other items of expense incurred in the construction of improvements upon real property un