Section 17202.1 Of Chapter 2. License And Bond From California Financial Code >> Division 6. >> Chapter 2.
17202.1
. An applicant for an escrow agent's license or a licensee
may, in lieu of and subject to the same conditions as the bond
required by Section 17202, deposit with the commissioner a cash bond
in the sum specified in Section 17202. Evidence of the cash bond
shall be a deposit in the amount specified in Section 17202 in a bank
or investment certificates of industrial loan companies, authorized
to do business in this state and insured by the Federal Deposit
Insurance Corporation, or an investment certificate or share account
in the amount specified in Section 17202 issued by a savings and loan
association doing business in this state and insured by the Federal
Savings and Loan Insurance Corporation. Those deposits, certificates,
or accounts shall be assigned to and accepted and maintained by the
commissioner, upon those terms as the commissioner may prescribe,
until released by the commissioner, and shall not be deemed an asset
of the applicant or licensee for the purpose of complying with
Section 17210.