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 1741.3 - Statement of Account

Upon completion of an escrow transaction an escrow agent shall render to each principal to the escrow transaction a statement of his account in writing. Such statement shall specify all receipts and disbursements of escrow funds for his account. Charges made by the escrow agent for his services, and all disbursements by the escrow agent to a broker or salesman in connection with an escrow transaction shall be clearly designated as such and shall be shown separately from disbursements of the escrow agent. Payments outside of escrow, if shown in the statement, shall be set forth separately from payments by or to the escrow agent. Internet escrow agents may transmit the statement of account electronically over the Internet to the principals to the escrow transaction. In the event a person is not able to electronically receive the statement of account, the Internet escrow agent shall mail a true and correct copy of the statement of account within 24 hours of its completion.

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 17403.3, 17403.5, 17404, 17415, 17601 and 17603, Financial Code.