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 1741.1 - Escrow Receipts
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
(a) An escrow agent shall issue consecutively numbered receipts for all escrow money or checks deposited with or mailed to the escrow agent and retain copies of such receipts in a separate file. The copies of the receipts shall be clearly identified as a copy of the original receipt.
(b) An Internet escrow agent shall issue consecutively numbered receipts for all escrow money or checks deposited with or mailed to the Internet escrow agent. An Internet escrow agent may deliver the receipts electronically over the Internet to the person depositing the funds into the escrow. In the event a person is not able to electronically receive the receipt, the Internet escrow agent shall mail a true and correct copy of the receipt within 24 hours of execution. An Internet escrow agent may retain a copy of the receipt electronically in accordance with the provisions of subsection (b) of Section 1737.3 of these rules.
1. New
section filed 3-3-52; effective thirtieth day thereafter (Register 27, No.
5).
2. Editorial correction adding NOTE filed 4-6-83 (Register 83,
No. 15).
3. 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 17403.5, 17404, 17415 and 17603, Financial Code.
