CHAPTER 2. License and Bond [17200. - 17215.]

Heading of Chapter 2 amended by Stats. 1961, Ch. 475.

§§ 17200–17215 · 26 sections

§ 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 organized for that purpose…
§ 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…
§ 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 shall be…
§ 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…
§ 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…
§ 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…
§ 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…
§ 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.
§ 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…
§ 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…
§ 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…
§ 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…
§ 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…
§ 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…
§ 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…
§ 17209.4 The license shall state whether the licensee is licensed as an escrow agent or joint control agent.
§ 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…
§ 17210.1 The license shall be kept conspicuously posted in all places of business of the licensee.
§ 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,…
§ 17212.1 All licensees shall notify the commissioner of any changes in shareholders, directors, officers, trustees, managers, and other persons participating in the…
§ 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…
§ 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…
§ 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…
§ 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…
§ 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…
§ 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…