California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 9 - Escrow Agents
Article 4 - Books, Records and Accounts
Section 1740.1 - Notice of Interest
An escrow agent shall act without partiality to any of the parties to an escrow transaction. If an escrow agent or a person or company related to or affiliated with the escrow agent is a principal to the escrow transaction or is acting or has acted as broker or salesman in relation to the escrow transaction, the escrow agent 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 not less than eight (8) point bold type. Internet escrow agents may transmit the advice electronically over the Internet to all parties to the escrow transaction.
1. New
section filed 3-3-52; effective thirtieth day thereafter (Register 27, No.
5).
2. Amendment filed 10-6-72; effective thirtieth day thereafter
(Register 72, No. 41)
3. Amendment filed 7-8-83; effective thirtieth
day thereafter (Register 83, No. 28).
4. Amendment filed 12-16-97;
operative 1-15-98 (Register 97, No. 51).
5. Amendment of section and
NOTE filed 7-21-2003; operative 7-21-2003 pursuant to Government Code section
11343.4
(Register 2003, No. 30).
Note: Authority cited: Section 17400, Financial Code. Reference: Sections 17420, 17421 and 17603, Financial Code.
