Jurris.COM
Section 17421.5 Of Chapter 3. Escrow Regulations From California Financial Code >> Division 6. >> Chapter 3.
17421.5
. (a) Notwithstanding Section 17420, a licensee may charge a
fee for administering an escrow that has been postponed for at least
two months from the most recent closing date agreed upon by the
parties in the written instructions or has been canceled if all of
the following requirements are met:
(1) The postponement or cancellation resulted from the acts or omissions of the parties to the escrow transaction.
(2) The fee was disclosed in the written instructions in not less than 8-point bold type on the face or front page of the instructions.
(3) The principal parties to the escrow transaction have executed the written fee instructions by initialing those instructions.
(b) This section shall apply to written instructions made on and after January 1, 2008.
(1) The postponement or cancellation resulted from the acts or omissions of the parties to the escrow transaction.
(2) The fee was disclosed in the written instructions in not less than 8-point bold type on the face or front page of the instructions.
(3) The principal parties to the escrow transaction have executed the written fee instructions by initialing those instructions.
(b) This section shall apply to written instructions made on and after January 1, 2008.
