reglab/housing_qa huggingface dataset:
CA Fin Code § 17337 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17337.

17337.  Fidelity Corporation may invest its funds only as provided by rules of the commissioner adopted with a view to preserving reasonable liquidity.Upon request of the commissioner, Fidelity Corporation shall furnish an authorization for disclosure to the commissioner of financial records of funds pursuant to Section 7473 of the Government Code.(Amended by Stats. 1985, Ch. 1560, Sec. 25. Effective October 2, 1985.)
CA Fin Code § 17339 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17339.

17339.  Prior to incurring any extraordinary or nonrecurring expense, Fidelity Corporation shall first obtain the written consent of the commissioner.(Amended by Stats. 1988, Ch. 1458, Sec. 26. Effective September 28, 1988.)
CA Fin Code § 17340 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17340.

17340.  In the event the board of directors of Fidelity Corporation deem it necessary and prudent to raise additional moneys for payment of claims or expenses of administration, it may, with the commissioner’s written consent, borrow money against its assets, including future assessments.(Repealed and added by Stats. 1988, Ch. 1458, Sec. 28. Effective September 28, 1988.)
CA Fin Code § 17341 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17341.

17341.  The commissioner shall give prompt notice to Fidelity Corporation when the commissioner takes possession of the property and business of a member and shall give further prompt notice when the commissioner determines to liquidate the property and business of a member.(Amended by Stats. 1985, Ch. 1560, Sec. 29. Effective October 2, 1985.)
CA Fin Code § 17342 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17342.

17342.  Memberships issued by Fidelity Corporation shall be nontransferable and shall be exempt from the provisions of the Corporate Securities Law of 1968.(Amended by Stats. 1985, Ch. 1560, Sec. 30. Effective October 2, 1985.)
CA Fin Code § 17343 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17343.

17343.  No provision of the Insurance Code shall apply to Fidelity Corporation.(Amended by Stats. 1985, Ch. 1560, Sec. 31. Effective October 2, 1985.)
CA Fin Code § 17344 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17344.

17344.  The operation of Fidelity Corporation shall at all times be subject to the regulation of the commissioner and the commissioner’s duly designated representatives. The commissioner and the commissioner’s duly designated representatives may at any time investigate the affairs and examine the books, accounts, records, and files used by Fidelity Corporation. The commissioner and the commissioner’s duly designated representatives shall have free access to the offices, books, accounts, papers, records, files, safes, and vaults of Fidelity Corporation.(Amended by Stats. 1985, Ch. 1560, Sec. 32. Effective October 2, 1985.)
CA Fin Code § 17345 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17345.

17345.  Any member aggrieved by any action or decision of Fidelity Corporation may appeal to the commissioner within 30 days from the action or decision, except that all matters relating to claims for loss of trust obligations shall be decided under Section 17345.1. The commissioner’s decision on appeal shall be made within 60 days from the date of the appeal and shall be considered final.(Repealed and added by Stats. 1997, Ch. 370, Sec. 3. Effective January 1, 1998.)
CA Fin Code § 17346 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17346.

17346.  (a) Fidelity Corporation and its members shall not advertise, print, display, publish, distribute, or broadcast, or cause or permit to be advertised, printed, displayed, published, distributed, or broadcast, in any manner any statement or representation with regard to a guarantee of trust obligations in their advertisements that is false or misleading or calculated to deceive or misinform the public. Any statement or representation with regard to a guarantee of trust obligations, except the statement set forth in subdivision (b), shall be reviewed and approved by the commissioner prior to its use.(b) Any advertising referring to Fidelity Corporation shall state in a clear and conspicuous manner, the following statement: “MEMBER OF ESCROW AGENTS’ FIDELITY CORPORATION (EAFC). EAFC PROVIDES FIDELITY COVERAGE TO ITS MEMBERS.  EAFC IS NOT A GOVERNMENT AGENCY, AND THERE IS NO GUARANTEE OF A PAYMENT OF ANY CLAIM BY THE STATE OF CALIFORNIA.”(c) Neither Fidelity Corporation nor its members shall advertise that trust obligations of escrow agents are “protected,” “guaranteed,” “insured,” or use words to that effect.(Amended by Stats. 2007, Ch. 237, Sec. 2. Effective January 1, 2008.)
CA Fin Code § 17347 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17347.

17347.  (a) The Secretary of State shall not file articles for the incorporation of Fidelity Corporation or an amendment to the articles unless the commissioner has issued a written approval of the articles or amendment.(b) Fidelity Corporation shall not adopt any bylaws or amendments thereto without the written consent of the commissioner. Within 60 calendar days from the receipt of any bylaws or amendments thereto, submitted to the commissioner, the commissioner shall inform Fidelity Corporation, in writing, that the bylaws or amendments are not disapproved, or that those bylaws or amendments are disapproved and specify the information needed to complete the submittal. Within 60 calendar days from the receipt of a complete submittal, the commissioner shall reach a decision on the submittal.(Amended by Stats. 1992, Ch. 476, Sec. 6. Effective January 1, 1993.)
CA Fin Code § 17348 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17348.

17348.  In order to permit Fidelity Corporation to fulfill its obligation under this chapter, the commissioner shall furnish a list of all persons licensed under this division as of December 31 of each year and a copy of an escrow liability schedule filed with the commissioner. Each member on or before February 15 shall furnish to the commissioner and Fidelity Corporation the schedule of its escrow liability for each of its licensed locations as of the last day of each month for the preceding 12 months which ended December 31. A list of officers, directors, stockholders, trustees, agents, managers, and employees as of that date shall also be submitted to Fidelity Corporation, with the schedule. The schedule shall be in the form and contain such information as the commissioner may require.(Amended by Stats. 1993, Ch. 492, Sec. 5. Effective January 1, 1994.)
CA Fin Code § 17349 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17349.

17349.  If Fidelity Corporation is dissolved, subject to the approval of the commissioner, the net assets after settling all liabilities shall be distributed to the members on the basis of the number of each member’s licensed locations compared to the total number of all members’ licensed locations.(Amended by Stats. 1985, Ch. 1560, Sec. 36. Effective October 2, 1985.)
CA Fin Code § 17350 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17350.

17350.  All costs and expenses incurred by the commissioner in the administration of this chapter shall be paid to the commissioner by Fidelity Corporation. The limitation on the total assessment for each year set forth in paragraph (1) of subdivision (e) of Section 17207 shall not apply to Fidelity Corporation’s payment of costs and expenses incurred by the commissioner in the administration of this chapter. The commissioner may institute an action for the recovery of costs and expenses incurred in the administration of this chapter in any court of competent jurisdiction.(Amended by Stats. 1985, Ch. 1560, Sec. 37. Effective October 2, 1985.)
CA Fin Code § 17621 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 6 - Liquidation and Conservatorship|ARTICLE 1 - Possession by Commissioner|Section 17621.

17621.  Whenever it appears to the commissioner that any escrow agent subject to this division:(a) Is in an insolvent condition;(b) Is conducting escrow business in an unsafe or unauthorized manner;(c) Has violated its charter or any law of the State of California;(d) Refuses to submit its books, papers and affairs to the inspection of any examiner;(e) Neglects or refuses to observe any order of the commissioner made pursuant to the provisions of this division, within the time specified therein, unless the enforcement of such order is restrained in a proceeding brought by the escrow agent;(f) Any officer, director, or trustee of such escrow agent refuses to be examined upon oath touching the business of such escrow agent;(g) Any officer, director, stockholder, or trustee of such escrow agent, or attorney in fact of such escrow agent has embezzled, sequestered, or willfully diverted the assets or trust funds of such escrow agent;(h) Has permitted its tangible net worth to be lower than the minimum required by law;(i) Has failed to comply with the bonding requirements of Chapter 2 of this divisionthe commissioner shall dispatch a written notice and summary of findings, as referred to in Section 17415, to the principal officer of the escrow agent involved or to its manager of record; and such escrow agent shall be afforded a reasonable opportunity to comply or otherwise effect such remedies as the commissioner may deem acceptable. However, should the escrow agent so notified fail to comply within five days of receipt of the notice, or as soon as it appears to the commissioner that no compliance is possible, or in the event prompt delivery of the prescribed written notice is impossible, the commissioner may forthwith take possession of the property and business of such escrow agent and retain possession until such escrow agent resumes business or its affairs be finally liquidated as provided in this chapter. The escrow agent, with the consent of the commissioner, may resume business upon such conditions as the commissioner may prescribe.(Amended by Stats. 1981, Ch. 773, Sec. 8.)
CA Fin Code § 17622 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 6 - Liquidation and Conservatorship|ARTICLE 1 - Possession by Commissioner|Section 17622.

17622.  Whenever the commissioner has taken possession of any licensee, such licensee, within 10 days after such taking, if it deems it is aggrieved thereby, may apply to the superior court in the county in which the head office of the licensee is located to enjoin further proceedings. The court, after citing the commissioner to show cause why further proceedings should not be enjoined and after a hearing and a determination of the facts upon the merits may dismiss such application or enjoin the commissioner from further proceeding and direct him to surrender the property and business to the licensee, or make such further order as may be just.(Added by Stats. 1963, Ch. 2130.)
CA Fin Code § 17623 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 6 - Liquidation and Conservatorship|ARTICLE 1 - Possession by Commissioner|Section 17623.

17623.  An appeal from a judgment enjoining the commissioner from further proceedings and directing the commissioner to surrender the business, property, and assets to the licensee does not operate as a stay of the judgment, unless the trial court in its discretion so orders. If the judgment dismisses the action an appeal therefrom does not operate as a stay of the judgment but the court rendering the judgment may, in its discretion enjoin the commissioner pending the appeal, from further proceedings and direct the commissioner, pending the appeal, to surrender the business, property, and assets to the licensee, if an undertaking is given as required by Chapter 2 (commencing with Section 916) of Title 13 of Part 2 of the Code of Civil Procedure.(Amended by Stats. 1982, Ch. 517, Sec. 225.)
CA Fin Code § 17625 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 6 - Liquidation and Conservatorship|ARTICLE 1 - Possession by Commissioner|Section 17625.

17625.  If the commissioner’s demand for the possession of the property, business and assets is not complied with within 24 hours after service of the demand, the commissioner may call to his assistance the sheriff of the county in which the principal place of business of such licensee is located, by giving the sheriff written demand the sheriff shall enforce the demands of the commissioner.(Added by Stats. 1963, Ch. 2130.)
CA Fin Code § 17626 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 6 - Liquidation and Conservatorship|ARTICLE 1 - Possession by Commissioner|Section 17626.

17626.  When the commissioner takes possession of the property, business and assets of any licensee, such licensee or the president and secretary of such licensee shall make and deliver to the commissioner verified schedules of its property, assets, and funds held in escrow. The commissioner may at any time examine under oath any licensee, or any officer, director, trustee, agent, or employee of such licensee, to determine whether or not all such property, assets, and funds held in escrow have been transferred and delivered to his possession.(Amended by Stats. 1973, Ch. 705.)
CA Fin Code § 17627 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 6 - Liquidation and Conservatorship|ARTICLE 1 - Possession by Commissioner|Section 17627.

17627.  The commissioner may issue subpoenas and require the attendance of parties for examination under this article as provided for in this chapter.(Amended by Stats. 2002, Ch. 772, Sec. 14. Effective January 1, 2003.)
CA Fin Code § 17628 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 6 - Liquidation and Conservatorship|ARTICLE 1 - Possession by Commissioner|Section 17628.

17628.  When the commissioner takes possession of the business, property, and assets of a licensee, he may appoint a custodian. The commissioner may require a good and sufficient bond from the custodian and place him in charge as his representative.(Added by Stats. 1963, Ch. 2130.)
CA Fin Code § 17629 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 6 - Liquidation and Conservatorship|ARTICLE 1 - Possession by Commissioner|Section 17629.

17629.  When the commissioner takes possession of the property, business, and assets of a licensee, he may collect all money due to such licensee and give receipt therefor. The commissioner may do such other acts as are necessary or expedient to collect, conserve, or protect the licensee’s business, property, and assets.(Added by Stats. 1963, Ch. 2130.)
CA Fin Code § 17630 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 6 - Liquidation and Conservatorship|ARTICLE 2 - Conservatorship|Section 17630.

17630.  If any facts occur which would entitle the commissioner under Section 17621 to take possession of the property, business and assets of a licensee the commissioner may appoint a conservator of a licensee and require of him such bond as the commissioner deems proper. The commissioner may also, upon the request of the board of directors of a licensee, appoint a conservator of such licensee and require of him such bond as the commissioner deems proper. The conservator, under the direction of the commissioner, shall take possession of the property, business and assets of the licensee and take such action as he may deem necessary to conserve the assets of such licensee pending further disposition of its business. The conservator shall retain such possession until the property, business and assets of the licensee are returned to the licensee or until further order of the commissioner.(Added by Stats. 1963, Ch. 2130.)
CA Fin Code § 17631 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 6 - Liquidation and Conservatorship|ARTICLE 2 - Conservatorship|Section 17631.

17631.  Subject to the other provisions of this article, a conservator, while in possession of the property, business and assets of a licensee, has the same powers and rights and is subject to the same duties and obligations as the commissioner while in possession of the property, business and assets of a licensee; and during such time the rights of a licensee and of all persons with respect thereto, subject to the other provisions of this article, are the same as if the commissioner had taken possession of such property, business and assets. A conservator, while in possession of the property, business and assets of a licensee, shall have all the rights, powers and privileges of the licensee, its officers and directors. All expenses of any such conservatorship shall be paid out of the assets of the licensee and shall be a lien thereon which shall be prior to any other lien. The conservator shall receive a salary, fixed by the commissioners, in an amount no greater than that which would be paid by the commissioner to a special deputy in charge of the liquidation of the licensee.(Added by Stats. 1963, Ch. 2130.)
CA Fin Code § 17632 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 6 - Liquidation and Conservatorship|ARTICLE 2 - Conservatorship|Section 17632.

17632.  Upon appointing a conservator the commissioner shall cause to be made and completed at the earliest possible date such an examination of the affairs of the licensee as shall be necessary to inform him as to its financial condition.(Added by Stats. 1963, Ch. 2130.)
CA Fin Code § 17633 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 6 - Liquidation and Conservatorship|ARTICLE 2 - Conservatorship|Section 17633.

17633.  A conservator, while in possession of the property, business and assets of a licensee, may call, upon the notice required by the licensee’s bylaws, a meeting of the investors of the licensee who are entitled to vote, for any purpose, including without limitation the election of a board of directors, and upon the holding of a meeting for such purpose the terms of office of all directors shall expire, or may call, upon the notice required by the licensee’s bylaws, a meeting of the board of directors for any purpose, including without limitation the filling of vacancies on the board of directors or the removal and election or the removal or election of officers. Each such meeting shall be supervised by the conservator.(Added by Stats. 1963, Ch. 2130.)
CA Fin Code § 17634 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 6 - Liquidation and Conservatorship|ARTICLE 2 - Conservatorship|Section 17634.

17634.  If the commissioner becomes satisfied that it may be done safely and in the public interest, he may terminate the conservatorship and permit the licensee for which a conservator was appointed to resume its business under direction of its board of directors, subject to such terms, conditions, restrictions and limitations as he may prescribe.(Added by Stats. 1963, Ch. 2130.)
CA Fin Code § 17635 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 6 - Liquidation and Conservatorship|ARTICLE 3 - Liquidation by the Commissioner|Section 17635.

17635.  If at any time after taking possession of the property and business of a licensee it shall appear to the commissioner that it would be futile to proceed as conservator with the conduct of the business of such person he may apply to the superior court of the county in which is located the principal office of such person in this State for an order to liquidate and wind up the business of said person. Upon a full hearing of such application, the court may make an order directing the winding up and liquidation of the business of such person by the commissioner, as liquidator.(Added by Stats. 1963, Ch. 2130.)
CA Fin Code § 17636 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 6 - Liquidation and Conservatorship|ARTICLE 3 - Liquidation by the Commissioner|Section 17636.

17636.  Whenever the commissioner has taken possession of the property and business of a licensee he may petition the superior court for the appointment of a receiver to liquidate the affairs of the licensee.(Added by Stats. 1963, Ch. 2130.)
CA Fin Code § 17637 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 6 - Liquidation and Conservatorship|ARTICLE 3 - Liquidation by the Commissioner|Section 17637.

17637.  The commissioner may appoint one or more special deputies to assist in the duties of liquidation and distribution under his direction and may also employ such special legal counsel, accountants, and assistants as may be needed and required and fix their salaries and compensation. All such salaries and compensation with other reasonable and necessary expenses as may be incurred in the liquidation shall be paid by the commissioner from the funds of the licensee in his hands. Such expenses shall include, among other things, that part of the salary of the commissioner and of his deputies, auditors, accountants, appraisers and other assistants, and that part of the general expenses of the commissioner’s office, as fairly represent, in the opinion of the commissioner, the proportion properly attributable to such liquidation.(Added by Stats. 1963, Ch. 2130.)
CA Fin Code § 17638 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 6 - Liquidation and Conservatorship|ARTICLE 3 - Liquidation by the Commissioner|Section 17638.

17638.  In liquidating the affairs of a licensee the commissioner may:(a) Collect all money due to, and claims of, the licensee and give receipt therefor.(b) Approve and pay all just and equitable claims.(c) Commence and prosecute all actions and proceedings necessary to enforce liquidation.(d) Compound bad or doubtful debts or claims, borrow money, sell, convey, or transfer real or personal property, on order of the superior court of the county in this State in which the principal office of the licensee is located. The order shall be made after hearing and on such notice as the court prescribes.(Added by Stats. 1963, Ch. 2130.)