Section 17212.1 Of Chapter 2. License And Bond From California Financial Code >> Division 6. >> Chapter 2.
17212.1
. All licensees shall notify the commissioner of any changes
in shareholders, directors, officers, trustees, managers, and other
persons participating in the escrow business directly or indirectly
compensated by the escrow agent (other than usual and customary
employees who file pursuant to subdivision (d) of Section 17414.1 and
Section 17419), by filing by certified mail, return receipt
requested, for those persons a statement of identity and
questionnaire, as prescribed by the commissioner for those persons,
and fingerprint images and related information, submitted using the
process established by the Department of Justice for requesting state
and federal summary criminal history information. Persons who have
previously submitted fingerprints or fingerprint images and related
information to the commissioner may so notify the commissioner and
need not submit additional fingerprint images and related information
unless requested to do so by the commissioner. The commissioner
shall provide written notice to both the licensee and to the person
if any of the information received pursuant to this division shows
that the person's employment, participation, or ownership interest
would be in violation of Section 17414.1, and upon that notification
the escrow agent shall deny the person the employment or interest. No
person shall have access to trust funds or sign checks or otherwise
perform any activities related to the processing of escrow
transactions after the licensed escrow agent has been notified by the
commissioner that the person's employment, participation, or
ownership interest is in violation of Section 17414.1. The
requirements set forth in this section are in addition to those
required under Section 17213.
The commissioner may by regulation require licensees to file at
such times as he or she may specify additional information as he or
she may reasonably require regarding any changes in the information
provided in any application filed pursuant to this division.