If it appears to the commissioner that any licensed escrow agent has violated its articles of incorporation, or any law or rule binding upon it, the commissioner shall, by written order addressed to the agent direct the discontinuance of such violation. The order shall be effective immediately, but shall not become final except in accordance with the provisions of Section 17604.
(Amended by Stats. 1985, Ch. 1560, Sec. 39. Effective October 2, 1985.)
Terms Used In California Financial Code 17602
- Escrow: Money given to a third party to be held for payment until certain conditions are met.