reglab/housing_qa huggingface dataset:
CA Fin Code § 16905 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 12 - Foreign (Other Nation) Credit Unions|ARTICLE 9 - Enforcement|Section 16905.

16905.  (a) Any foreign (other nation) credit union to which an order is issued under Section 16902 and 16903 may apply to the commissioner to modify or rescind the order. The commissioner shall not grant the application unless the commissioner finds that it is in the public interest to do so and that it is reasonable to believe that the foreign (other nation) credit union will, if and when it is again authorized to maintain an office, comply with all applicable provisions of this division and of any regulation or order issued under this division.(b) The right of any foreign (other nation) credit union to which an order is issued under Section 16902 or 16903 to petition for judicial review of the order shall not be affected by the failure of the foreign (other nation) credit union to apply to the commissioner pursuant to subdivision (a) to modify or rescind the order.(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
CA Fin Code § 17300 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 1 - Definitions|Section 17300.

17300.  “Fidelity Corporation” means the Escrow Agents’ Fidelity Corporation.(Amended by Stats. 1985, Ch. 1560, Sec. 6. Effective October 2, 1985.)
CA Fin Code § 17301 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 1 - Definitions|Section 17301.

17301.  “Member” means any person licensed under this division who is required by Section 17312 to be a member of Fidelity Corporation.(Amended by Stats. 1985, Ch. 1560, Sec. 7. Effective October 2, 1985.)
CA Fin Code § 17302 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 1 - Definitions|Section 17302.

17302.  “Trust obligation” means:(a) All money and property deposited with a member within the State of California in an escrow or joint control transaction.(b) All money and property deposited with a member to be held in trust within the State of California pursuant to a federal or state statute or requirements of a governmental agency.(Amended by Stats. 2001, Ch. 662, Sec. 1. Effective January 1, 2002.)
CA Fin Code § 17303 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 1 - Definitions|Section 17303.

17303.  “Commissioner” means the Commissioner of Business Oversight.(Amended by Stats. 2019, Ch. 143, Sec. 59. (SB 251) Effective January 1, 2020.)
CA Fin Code § 17304 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 1 - Definitions|Section 17304.

17304.  “Loss,” within the meaning of this chapter, means the loss of trust obligations held by a member within the State of California as a result of the fraudulent or dishonest abstraction, misappropriation, or embezzlement of trust obligations by an officer, director, trustee, stockholder, manager, or employee of a member.(Amended by Stats. 2001, Ch. 662, Sec. 2. Effective January 1, 2002.)
CA Fin Code § 17305 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 1 - Definitions|Section 17305.

17305.  “Monthly average escrow liability,” as used in this chapter, means the average escrow liability for the 12-month period as reported in the most recent report made by the member to the commissioner pursuant to Section 17348.(Amended by Stats. 1989, Ch. 590, Sec. 1.)
CA Fin Code § 17310 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 2 - Purpose: Scope of Guarantee|Section 17310.

17310.  (a) It shall be the purpose of Fidelity Corporation to indemnify a member within the State of California against loss, subject to the limitations set forth in this chapter.(b) Fidelity Corporation shall not be liable for any consequential damages sustained by a member, or by any other person, nor for any punitive damages whatsoever.(c) The indemnification shall be provided by any of the following:(1) A fund established by Fidelity Corporation pursuant to Section 17320.(2) A fidelity bond or insurance policy to be approved by the commissioner.(3) A combination of paragraphs (1) and (2) subject, however, to the maximum coverage specified in subdivision (b) of Section 17314.(d) Fidelity Corporation shall provide a copy to all of its members and the commissioner of the fidelity bond or insurance policy as it is acquired or renewed, and Fidelity Corporation shall promptly provide a copy to any member or successor in interest, upon request.(Amended by Stats. 2006, Ch. 376, Sec. 1. Effective January 1, 2007.)
CA Fin Code § 17311 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 2 - Purpose: Scope of Guarantee|Section 17311.

17311.  (a) Persons licensed pursuant to this division shall maintain a corporation under the Nonprofit Mutual Benefit Corporation Law (Part 3 (commencing with Section 7110) of Division 2 of Title 1 of the Corporations Code) operating under the name Escrow Agents’ Fidelity Corporation.(b) The State of California, the Department of Business Oversight, or any officer, agent, or employee of either shall not be liable in any way for the conduct of Fidelity Corporation, its directors, officers, agents, employees, or members.(Amended by Stats. 2015, Ch. 190, Sec. 39. (AB 1517) Effective January 1, 2016.)
CA Fin Code § 17313 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 2 - Purpose: Scope of Guarantee|Section 17313.

17313.  The commissioner shall review and approve the articles of incorporation and bylaws of Fidelity Corporation before they are filed with the Secretary of State.(Amended by Stats. 1985, Ch. 1560, Sec. 11. Effective October 2, 1985.)
CA Fin Code § 17313.1 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 2 - Purpose: Scope of Guarantee|Section 17313.1.

17313.1.  The fiscal year of Fidelity Corporation shall commence on July 1 of each year.(Added by Stats. 1988, Ch. 1458, Sec. 5. Effective September 28, 1988.)
CA Fin Code § 17314.1 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 2 - Purpose: Scope of Guarantee|Section 17314.1.

17314.1.  (a) Notwithstanding any other provision of this article, Fidelity Corporation shall not be obligated to pay any claim made by a member unless (1) the claim would, except for the dollar amount thereof, be a valid claim under the bond as prescribed by Section 17203.1 and (2) the claim is made within the time prescribed by Section 17205. The protection to members provided by Fidelity Corporation and by the fidelity bond or insurance policy, if any, shall therefore be deemed to be coextensive except as to the dollar amounts as set forth in Section 17314. All defenses available to the insurer under the fidelity bond or insurance policy, if any, on any claim shall also be a defense to Fidelity Corporation, as either an indemnitor or surety, on any claim brought against the corporation.(b) No person other than a member, or the member’s successor in interest, who shall be the commissioner, a conservator, receiver, or trustee as designated by a court of competent jurisdiction, is entitled to assert a claim against Fidelity Corporation for losses covered under this article.(Amended by Stats. 2006, Ch. 376, Sec. 2. Effective January 1, 2007.)
CA Fin Code § 17314.2 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 2 - Purpose: Scope of Guarantee|Section 17314.2.

17314.2.  Claims filed prior to the effective date of this chapter shall be governed by the provisions in effect when the loss occurred.(Added by Stats. 1988, Ch. 1458, Sec. 9. Effective September 28, 1988.)
CA Fin Code § 17314.3 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 2 - Purpose: Scope of Guarantee|Section 17314.3.

17314.3.  (a) A deductible shall apply to each loss suffered by a member in the amount of five thousand dollars ($5,000), plus 5 percent of the amount by which the loss exceeds five thousand dollars ($5,000). If a member with more than one licensed location suffers a covered loss at more than one location, the deductible shall apply to each location separately in proportion to the amount of the loss suffered at each such licensed location.(b) Fidelity Corporation shall pay the full amount of any member’s loss to the member or the member’s successor in interest. The member shall be obligated to pay to Fidelity Corporation the amount of the member’s deductible after payment in full of the loss by Fidelity Corporation.(c) In the event a license is surrendered, suspended, or revoked prior to payment in full by the member of all or any portion of the deductible, the member shall nevertheless be liable to Fidelity Corporation for the amount of the deductible. If the license of the member is surrendered, suspended, or revoked prior to payment in full of the deductible, Fidelity Corporation shall have priority over all other claimants, except the State of California and any conservator or receiver of the member’s estate, against the assets of the licensee, including the bond required under Section 17202.(d) Nothing in this section shall be construed to give any person or entity not (1) a member of Fidelity Corporation, or (2) a successor in interest of a member, or (3) the commissioner any right of action or any right to make a claim directly against Fidelity Corporation, its officers, directors, agents, or employees. Fidelity Corporation shall be entitled to recover its reasonable costs and attorney’s fees as an item of costs, as provided for in paragraph (10) of subdivision (a) and paragraph (5) of subdivision (c) of Section 1033.5 of the Code of Civil Procedure, in defending any claim made directly against Fidelity Corporation, not authorized in this division.(e) If a member fails to pay the deductible within the time set forth in the bylaws of Fidelity Corporation, Fidelity Corporation may bring an action at law or in equity against the member to recover the amount of the deductible. Fidelity Corporation shall recover its reasonable costs and attorney’s fees as an item of costs, as provided for in paragraph (10) of subdivision (a) and paragraph (5) of subdivision (c) of Section 1033.5 of the Code of Civil Procedure, provided, that the payment of the costs and attorney’s fees will not cause the member to be in violation of Section 17202, 17202.1, or 17210.(Amended by Stats. 1990, Ch. 1431, Sec. 1.)
CA Fin Code § 17315 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 2 - Purpose: Scope of Guarantee|Section 17315.

17315.  The commissioner may establish rules which are reasonable and necessary to carry out the provisions of this chapter.(Added by Stats. 1982, Ch. 1106, Sec. 1.)
CA Fin Code § 17321.1 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 3 - Membership Fee and Assessments|Section 17321.1.

17321.1.  Fidelity Corporation shall levy a special assessment against its members whenever:(a) Deemed necessary by the board of directors in the event of any extraordinary expenses which would seriously deplete the resources of the operations fund; or(b) A proof of loss has been submitted by a member which, if paid during that fiscal year, would reduce the membership fund by 10 percent or more.(Added by Stats. 1988, Ch. 1458, Sec. 15. Effective September 28, 1988.)
CA Fin Code § 17321.2 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 3 - Membership Fee and Assessments|Section 17321.2.

17321.2.  Fidelity Corporation shall be entitled to collect late fees as specified in Fidelity Corporation’s bylaws for any late payment of assessments under Section 17320, 17321, or 17321.1.(Added by Stats. 1988, Ch. 1458, Sec. 16. Effective September 28, 1988.)
CA Fin Code § 17322 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 3 - Membership Fee and Assessments|Section 17322.

17322.  Fidelity Corporation shall report to the commissioner each levy of assessment within 10 business days after the levy.(Repealed and added by Stats. 1988, Ch. 1458, Sec. 18. Effective September 28, 1988.)
CA Fin Code § 17323 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 3 - Membership Fee and Assessments|Section 17323.

17323.  (a) In the event any member fails to pay an assessment when due, Fidelity Corporation shall by written demand addressed to the member request the payment of the assessment within 30 days of the demand letter. If the member fails to pay an assessment, the commissioner may issue an order pursuant to subdivision (b).(b) If a member fails to pay the assessment, or any applicable late fee, the commissioner may by order summarily suspend the license issued to the company. If after the order is made, a request for a hearing is filed in writing and a hearing is not held within 60 days thereafter, the order is deemed rescinded as of its effective date. During any period when its license is suspended, a company shall not conduct business pursuant to this division, except as may be permitted by order of the commissioner. However, the suspension of a license shall not affect the powers of the commissioner as provided in this division.(c) Fidelity Corporation may bring an action at law or in equity against the member to recover any assessment or fees.(d) Fidelity Corporation may be awarded costs and reasonable attorney’s fees, if it prevails in any action against a member, or against a third party, except the commissioner, to enforce a claim against the bond or other security posted by the member pursuant to Section 17202, or in any action against a member pursuant to subdivision (c). Those costs and attorney’s fees may be awarded as an item of costs, as provided for in paragraph (10) of subdivision (a) and paragraph (5) of subdivision (c) of Section 1033.5 of the Code of Civil Procedure, provided that the payment of the costs and attorney’s fees will not cause the member to be in violation of Section 17202, 17202.1, or 17210.(Amended by Stats. 1990, Ch. 1431, Sec. 2.)
CA Fin Code § 17324 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 3 - Membership Fee and Assessments|Section 17324.

17324.  Any reduction in the membership fund caused by payment of an extraordinary expense pursuant to subdivision (a) of Section 17320 or payment of claims pursuant to subdivision (c) of Section 17320 shall be replenished by the operations fund or the fidelity fund, as appropriate. The next assessment for the operations fund or the fidelity fund, as appropriate, shall include an amount necessary for that replenishment.(Added by Stats. 1988, Ch. 1458, Sec. 20. Effective September 28, 1988.)
CA Fin Code § 17330 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17330.

17330.  Any member or successor in interest who suffers a loss may file a claim with Fidelity Corporation for the amount of the loss.(Amended by Stats. 1988, Ch. 1458, Sec. 21. Effective September 28, 1988.)
CA Fin Code § 17331.1 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17331.1.

17331.1.  (a) Any person not previously issued a certificate must, upon employment with an escrow agent within this state, apply to Fidelity Corporation for a certificate. The member shall submit all applications for certificates to Fidelity Corporation within 10 business days of the date of employment. The person may continue employment until or unless denied a certificate by Fidelity Corporation. (b) Upon written notice by Fidelity Corporation to any or all members that any person has been denied a certificate, or has had a certificate suspended, canceled, or revoked, no member or person acting on behalf of a member shall authorize that person to have access to money or negotiable securities belonging to or in the possession of the escrow agent, or to draw checks upon the escrow agent or the trust accounts of the escrow agent. Any member or person who commits or who causes a violation of this section, which violation was either known or should have been known by the member or the person committing or causing the violation, may be subject to action by the commissioner and Fidelity Corporation as provided for in this division.(c) Each member and each person required to have a certificate shall comply with the Fidelity Corporation rules, to be approved by the commissioner, concerning the manner and timing within which Fidelity Corporation shall receive notice of employment, change of the person’s name, mailing address, or employment status, the certificate form, and the procedures for the administration thereof. Fidelity Corporation may collect a fee to cover the cost of processing the notices but no fee shall exceed twenty-five dollars ($25).(d) Fidelity Corporation shall assess the member a penalty at the rate of twenty-five dollars ($25) for every day that the member has not fully complied with this section, Section 17331, or Section 17331.2.(e) Any member that suffers a loss of trust obligations caused by any person who is required to have a certificate but has (1) failed to apply for a certificate, (2) has had the application for a certificate denied, (3) has a suspended certificate, or (4) whose certificate has been revoked shall be obligated to pay a deductible in the amount of 100 percent of the amount of the loss, notwithstanding the amount of the statutory deductible as prescribed by Section 17314.3. The failure to obtain a certificate, the denial of an application for a certificate, or the suspension, cancellation, or revocation of a certificate shall not limit the obligation of Fidelity Corporation to indemnify a member against loss of trust obligations as defined in this division.(Amended by Stats. 2004, Ch. 180, Sec. 5. Effective January 1, 2005.)
CA Fin Code § 17332 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17332.

17332.  When either Fidelity Corporation or the insurer providing the fidelity bond or insurance policy, if any, under Section 17310, or both, pay an obligation on behalf of a member, Fidelity Corporation and the insurer shall be subrogated to the rights, claims, and remedies of the member up to the amount paid by Fidelity Corporation and the insurer on behalf of the member. Independent of any duty or obligation of Fidelity Corporation, the member shall do nothing to prejudice those rights. In any subrogation action filed by Fidelity Corporation, the provider of the fidelity bond or insurance policy if payment was made thereunder, or both, Fidelity Corporation shall have the first right to the proceeds of any judgment or settlement obtained against the principal obligors and any other party who is held liable jointly or severally, in whole or in part, with the principal obligors, up to the amount actually paid on the claim by Fidelity Corporation. Fidelity Corporation and the insurer, as subrogees, shall also recover in the subrogation action reasonable costs and attorney’s fees which may be awarded either as part of any judgment or as an item of costs, as provided for in paragraph (10) of subdivision (a) and paragraph (5) of subdivision (c) of Section 1033.5 of the Code of Civil Procedure. No member engaged in business pursuant to Section 17200 shall be required to pay those costs and attorney’s fees awarded pursuant to this section. Amounts recouped by Fidelity Corporation through subrogation, minus all costs, attorney’s fees, and other administrative expenses incurred in obtaining that recovery, shall be credited to the fidelity fund.(Amended by Stats. 2004, Ch. 180, Sec. 7. Effective January 1, 2005.)
CA Fin Code § 17333 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17333.

17333.  The commissioner may forthwith upon written notice and order take possession of the property and business of Fidelity Corporation and retain possession until Fidelity Corporation satisfies the commissioner that it will operate in conformity with this chapter whenever it appears to the commissioner that Fidelity Corporation has done any of the following:(a) Violated its articles of incorporation or any law of this state.(b) Invested its funds in violation of Section 17337.(c) Not levied assessments as required by Sections 17320, 17321 and 17321.1. (d) Has not diligently prosecuted an action pursuant to Section 17323.(e) Violated any section of this chapter.(f) Neglected or refused to submit its books, papers, and affairs to the inspection of the commissioner.During the time the commissioner has possession the commissioner shall perform the duties and carry out the obligations of Fidelity Corporation.(Amended by Stats. 1990, Ch. 1431, Sec. 4.)
CA Fin Code § 17334 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17334.

17334.  Whenever the commissioner has taken possession of the property and business of Fidelity Corporation, Fidelity Corporation within 10 business days after the taking, if it deems itself aggrieved thereby, may apply to the superior court in the county in which the head office of Fidelity Corporation 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 the application or enjoin the commissioner from further proceedings and direct the commissioner to surrender the property and business to Fidelity Corporation, or make a further order as may be just.(Amended by Stats. 1985, Ch. 1560, Sec. 22. Effective October 2, 1985.)
CA Fin Code § 17335 (2021)
2021 California Code|Financial Code - FIN|DIVISION 6 - ESCROW AGENTS|CHAPTER 2.5 - Escrow Agents Fidelity Corporation|ARTICLE 4 - General Provisions|Section 17335.

17335.  An appeal may be taken from the judgment of the court by the commissioner or by Fidelity Corporation in the manner provided by law for appeals from the judgment of a superior court to the court of appeal. An appeal from the judgment of the court does not operate as a stay of the judgment unless the court, on good cause, so orders. No bond need be given if the appeal is taken by the commissioner, but if the appeal is taken by Fidelity Corporation a bond shall be given as required by Sections 917.2 and 917.5 of the Code of Civil Procedure as a condition to any stay.(Amended by Stats. 1998, Ch. 931, Sec. 148. Effective September 28, 1998.)