Section 17213.1 Of Chapter 2. License And Bond From California Financial Code >> Division 6. >> Chapter 2.
17213.1
. (a) An escrow agent's business shall not be removed from
the premises or address shown on the license without the prior
approval of the commissioner, and notice of any intended change shall
be transmitted to the commissioner not less than 30 days prior to
the date of the intended change of location; provided, however, that
the commissioner may waive the 30-day notice requirement when the
move is occasioned by fire, emergency, or other catastrophe. The
commissioner's approval shall be granted or denied within 30 days
from the date of the commissioner's receipt of the licensee's request
containing such information as the commissioner may require.
(b) When a licensed business is to be moved a distance of five or
more miles, and a change in ownership results from a transfer of 50
percent or more of the shares of the corporation, a licensee shall
file an application for authorization to change location on a form
furnished by the commissioner and the commissioner shall: (1) treat
the matter as an application for a new license by invoking the
provisions of Sections 17209, 17209.1, 17209.2, and 17209.3, and (2)
require the payment of such fees as are applicable under Section
17207. The provisions of this subdivision shall not apply when the
actual or contemplated change of ownership is to the transferor's
ancestors, descendants, or spouse, or any custodian or trustee for
the account of the transferor or the transferor's ancestors,
descendants, or spouse.