California Financial Code

§ 17414

FIN § 17414 Effective Jan 1, 1995Div. 6 · Ch. 3

Statute text

(a)It is a violation for any person subject to this division or any director, stockholder, trustee, officer, agent, or employee of any such person to do any of the following:

(1)Knowingly or recklessly disburse or cause the disbursal of escrow funds otherwise than in accordance with escrow instructions, or knowingly or recklessly to direct, participate in, or aid or abet in a material way, any activity which constitutes theft or fraud in connection with any escrow transaction.

(2)Knowingly or recklessly make or cause to be made any misstatement or omission to state a material fact, orally or in writing, in escrow books, accounts, files, reports, exhibits, statements, or any other document pertaining to an escrow or escrow affairs.

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Legislative history

Amended by Stats. 1994, Ch. 423, Sec. 2. Effective January 1, 1995.