Fin. Code, § 17421.5 · Chapter 3. Escrow Regulations
Fin. Code, § 17421.5
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) Notwithstanding Section 17420, a licensee may charge a fee for administering an escrow that has been postponed for at least two months from the most recent closing date agreed upon by the parties in the written instructions or has been canceled if all of the following requirements are met:
(1) The postponement or cancellation resulted from the acts or omissions of the parties to the escrow transaction.
(2) The fee was disclosed in the written instructions in not less than 8-point bold type on the face or front page of the instructions.
(3) The principal parties to the escrow transaction have executed the written fee instructions by initialing those instructions.
(b) This section shall apply to written instructions made on and after January 1, 2008.
Notes and commentary — not statutory text
History
Added by Stats. 2007, Ch. 237, Sec. 4. Effective January 1, 2008.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=17421.5.
- Text hash
- sha256 9df1b508a36dab61ebfd57a354927c31d7a73b7cf8ee774dad750de73fe2f777
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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Financial Code
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