State Codes and Statutes
Statutes > California > Fin > 17300-17305FINANCIAL CODE
SECTION 17300-17305
17300. "Fidelity Corporation" means the Escrow Agents' Fidelity Corporation. 17301. "Member" means any person licensed under this division who is required by Section 17312 to be a member of Fidelity Corporation. 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. 17303. "Commissioner" means the Commissioner of Corporations. 17304. "Loss," within the meaning of this chapter, means the loss of trust obligations held by a member within the State of California as a result of the fraudulent or dishonest abstraction, misappropriation, or embezzlement of trust obligations by an officer, director, trustee, stockholder, manager, or employee of a member. 17305. "Monthly average escrow liability," as used in this chapter, means the average escrow liability for the 12-month period as reported in the most recent report made by the member to the commissioner pursuant to Section 17348.
