The commissioner may order a licensed escrow agent which opens a branch office or changes its business location or locations without first obtaining the approval of the commissioner to forfeit to the people of the state a sum of up to one hundred dollars ($100) for every day for the first 10 days and ten dollars ($10) for every day thereafter during which the branch office or changed location is maintained without authority.
(Amended by Stats. 1990, Ch. 1186, Sec. 3.)
Terms Used In California Financial Code 17213.2
- Escrow: Money given to a third party to be held for payment until certain conditions are met.