Cal. Code Regs. tit. 10 § 110.209

Current through Register 2024 Notice Reg. No. 52, December 27, 2024
Section 110.209 - Notice of Affiliation or Interest

An association or service corporation which acts as an escrow agent shall act without partiality to any of the parties to an escrow transaction. If an association or a service corporation which acts as an escrow agent or an affiliate or an affiliated person of the association or service corporation is a principal in the escrow transaction or is acting or has acted as broker or salesman in relation to the escrow transaction, the association or service corporation shall advise in writing all parties to the escrow transaction of such relationship or affiliation before being employed as escrow agent in connection with such transaction. Such advice shall be on the face of the escrow instructions in large, bold type situated in a conspicuous location.

Cal. Code Regs. Tit. 10, § 110.209

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

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

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