No action may be brought on an escrow agent’s bond by any person after the expiration of two years from the time when the act or default complained of occurs.
(Amended by Stats. 1982, Ch. 517, Sec. 223.)
Terms Used In California Financial Code 17205
- 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 Education Code 18561