California Health and Safety Code

§ 1780.2

HSC § 1780.2 Effective Jan 1, 2001Div. 2 · Ch. 10 · Art. 3

Statute text

(a)A deposit may be paid in one or several payments, at or after the time the parties enter into the deposit agreement. A deposit shall be paid by cash or cash equivalent, jointly payable to the applicant and the escrow agent or depository. Possession and control of any deposit agreement shall be transferred to the escrow agent at the time the deposit is paid.

(b)A processing fee may be added to the deposit.

(1)The processing fee shall not exceed 1 percent of the amount of the average entrance fee or five hundred dollars ($500), whichever is greater.

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Legislative history

Amended by Stats. 2000, Ch. 820, Sec. 32. Effective January 1, 2001.