Escrow license ca

The stringent requirements by the Department Business Oversight assure that every licensed escrow company has met the highest standards in the industry. Consumer protection regulations unique to licensed escrow companies include:.

The bottom line is that a licensed escrow company is the best possible neutral third party to complete your real estate transaction. All new officers, directors and employees must be reported within ten days of their employment.

Bond Requirements Surety bond requirements Each escrow agent is required to maintain a surety bond at all times. Fidelity bond requirements Each escrow agent that is not required to be a member of EAFC or processes transactions that are not covered by EAFC must maintain a fidelity bond at all times. Corporate Securities of Escrow Agents Each escrow agent must obtain prior consent from the Department for any stock transfer, issuance of new shares or cancellation of shares regardless of the percentage of the shares being transferred or issued to new or existing owner.

A licensed escrow company also known as in independent escrow company is licensed by the Department of Business Oversight. The definitions in the Escrow Law determine who is subject to the licensing requirements. There are exemptions to getting a California Escrow license.

View licensing exemptions. Last updated: Dec 30, am. Escrow Law. The meeting will be held telephonically. The call in information is on the meeting agenda. For Archives Click Here. How do I apply for a license? Securities Escrow Law Forms Department of Financial Protection and Innovation is pleased to provide links to the following forms listed below.