California § 12340.6. 12340.6. (Amended by Stats. 2017, Ch. 417, Sec. 31.)

California Statutes

§ 12340.6. — 12340.6. (Amended by Stats. 2017, Ch. 417, Sec. 31.)

California·Code INS Insurance Code - INS·Div. 2. DIVISION 2. CLASSES OF INSURANCE·Part 6. PART 6. INSURANCE COVERING LAND·Ch. 1. CHAPTER 1. Title Insurance·Art. 1. ARTICLE 1. Definitions

(a)“Controlled escrow company” means any person, other than a title insurer or underwritten title company, whose principal business is the handling of escrows of real property transactions in connection with which title policies are issued, which person, if an artificial person, directly or indirectly, is controlled by, controls, or is under common control with a title insurer, or controls, is controlled by, or is under common control with an underwritten title company, or, if a natural person, is employed by, or controlled by, a title insurer or by an underwritten title company. As used in this section, the term “control” has the meaning set forth in subdivision (c) of Section 1215.

(b)Except for Article 6 (commencing with Section 12404), this section does not apply to any person

Free access — add to your briefcase to read the full text and ask questions with AI

(a)
“Controlled escrow company” means any person, other than a title insurer or underwritten title company, whose principal business is the handling of escrows of real property transactions in connection with which title policies are issued, which person, if an artificial person, directly or indirectly, is controlled by, controls, or is under common control with a title insurer, or controls, is controlled by, or is under common control with an underwritten title company, or, if a natural person, is employed by, or controlled by, a title insurer or by an underwritten title company. As used in this section, the term “control” has the meaning set forth in subdivision (c) of Section 1215.
(b)
Except for Article 6 (commencing
with Section 12404), this section does not apply to any person or entity doing business under any law of this state or the United States relating to banks or savings and loan associations.

California § 12340.6. (12340.6. (Amended by Stats. 2017, Ch. 417, Sec. 31.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.