No person subject to this division shall describe as an escrow, whether orally, in writing, or electronically, any transaction that is not defined as such in Section 17003.

(Amended by Stats. 1999, Ch. 441, Sec. 10. Effective January 1, 2000.)

Terms Used In California Financial Code 17403.1

  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Person: includes any person, firm, partnership, association, corporation, company, limited liability company, syndicate, estate, trust, business trust, or organization of any kind. See California Financial Code 18
  • Writing: includes any form of recorded message capable of comprehension by ordinary visual means. See California Financial Code 8
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