If the commissioner has reason to believe that any escrow agent is violating the provisions of this division, the commissioner may investigate the escrow agent‘s business and examine the books, accounts, records, and files used in the business of every escrow agent and of every person who acts or claims to act as principal or agent under or without the authority of this division. For the purposes of examination the commissioner and representatives of the commissioner shall have free access to the offices and places of business, books, accounts, records, papers, files, safes, and vaults of all persons examined. The cost of any investigation, inspection, and examination of a licensee under this section shall be paid to the commissioner as provided in Section 17405.1.
(Amended by Stats. 1996, Ch. 670, Sec. 4. Effective January 1, 1997.)
Terms Used In California Financial Code 17601
- escrow agent: as used in this division includes joint control agents and Internet escrow agents. See California Government Code 25823