Section 17302 Of Article 1. Definitions From California Financial Code >> Division 6. >> Chapter 2.5. >> Article 1.
17302
. "Trust obligation" means:
(a) All money and property deposited with a member within the
State of California in an escrow or joint control transaction.
(b) All money and property deposited with a member to be held in
trust within the State of California pursuant to a federal or state
statute or requirements of a governmental agency.