California Financial Code

§ 17421.5

FIN § 17421.5 Effective Jan 1, 2008Div. 6 · Ch. 3

Statute text

(a)Notwithstanding Section 17420, a licensee may charge a fee for administering an escrow that has been postponed for at least two months from the most recent closing date agreed upon by the parties in the written instructions or has been canceled if all of the following requirements are met:

(1)The postponement or cancellation resulted from the acts or omissions of the parties to the escrow transaction.

(2)The fee was disclosed in the written instructions in not less than 8-point bold type on the face or front page of the instructions.

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Legislative history

Added by Stats. 2007, Ch. 237, Sec. 4. Effective January 1, 2008.