§ 110.205. Subescrow Agent.

A subescrow agent may be a bank or trust company under the supervision of the Superintendent of Banks, Controller of the Currency, or the Commissioner, a state or federal savings and loan association, a municipal, county, state, or federal governmental agency, a state or federally chartered credit union, an insurance or title insurance company admitted to do business in the State of California, a company doing business under the Industrial Loan Law of the State of California, a company licensed to do business under the Escrow Law of the State of California, an attorney at law admitted to practice in the State of California, or any person or persons whose principal business is that of preparing abstracts or making searches of title that are used as a basis for the issuance of a policy of title insurance by a company doing business under any law of this state relating to insurance companies.

HISTORY

1. New section filed 12-7-88; operative 1-6-89 (Register 88, No. 52).

Note

Note: Authority cited: Section 8053, Financial Code. Reference: Section 6521, Financial Code.