reglab/statecodes huggingface dataset:
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 4 - Books, Records and Accounts › Section 1740.3 - Current Liabilities Defined

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The term "current liabilities" as used in Section
					 17210 of
					 the Financial Code includes (a) all liabilities due within one (1) year after
					 the date as of which the balance sheet making reference thereto is prepared;
					 together with (b) all liabilities due to officers, directors, stockholders,
					 affiliated companies, and employees of the escrow agent, regardless of the due
					 date thereof, except that such liabilities need not be included as current
					 liabilities, if not due within said one-year period, to the extent they are the
					 subject of a subordination agreement executed by the creditor subordinating
					 such liability to the claims of all other creditors for a period of not less
					 than said one-year period, if such agreement has been approved by the
					 Commissioner. Any such subordination agreement shall provide that it may be
					 rescinded or amended only upon thirty (30) days prior notice to the
					 Commissioner.
1. New
					 section filed 11-24-65; effective thirtieth day thereafter (Register 65, No.
					 23).
2. Editorial correction adding NOTE filed 4-6-83 (Register 83,
					 No. 15).
3. Editorial correction of printing error in section
					 (Register 96, No. 52).
Note: Authority cited: Sections
						17400 and
						17401,
						Financial Code. Reference: Sections
						17210 and
						17415,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 4 - Books, Records and Accounts › Section 1740.4 - Transfers Between Escrows

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Transfers of funds between escrows may
				  not be accomplished by the making of book entries alone, but must be
				  accomplished by the actual writing of a check from one escrow to the other; and
				  by the depositing of such check for the account of, and the writing of a
				  receipt for, the escrow to which the funds are being transferred. Such
				  transfers must also be properly supported and documented in the escrow files by
				  inclusion of the reasons for, and the appropriate approval of, the
				  transfer.
(b) This section does not
				  apply to Internet escrow agents.
1. New
					 section filed 11-24-65; effective thirtieth day thereafter (Register 65, No.
					 23).
2. Editorial correction of NOTE filed 4-6-83 (Register 83, No.
					 15).
3. Amendment of section and NOTE filed 7-21-2003; operative
					 7-21-2003 pursuant to Government Code section
					 11343.4
					 (Register 2003, No. 30).
Note: Authority cited: Section
						17400,
						Financial Code. Reference: Sections
						17403.5,
						17404,
						17415 and
						17603,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 4 - Books, Records and Accounts › Section 1741 - Copies of Escrow Instructions. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 3-3-52; effective thirtieth day thereafter (Register 27, No.
					 5).
2. Repealer filed 7-8-83; effective thirtieth day thereafter
					 (Register 83, No. 28).
Note: Authority cited: Sections
						17400 and
						17401,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 4 - Books, Records and Accounts › Section 1741.1 - Escrow Receipts

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) An
				  escrow agent shall issue consecutively numbered receipts for all escrow money
				  or checks deposited with or mailed to the escrow agent and retain copies of
				  such receipts in a separate file. The copies of the receipts shall be clearly
				  identified as a copy of the original receipt.
(b) An Internet escrow agent shall issue
				  consecutively numbered receipts for all escrow money or checks deposited with
				  or mailed to the Internet escrow agent. An Internet escrow agent may deliver
				  the receipts electronically over the Internet to the person depositing the
				  funds into the escrow. In the event a person is not able to electronically
				  receive the receipt, the Internet escrow agent shall mail a true and correct
				  copy of the receipt within 24 hours of execution. An Internet escrow agent may
				  retain a copy of the receipt electronically in accordance with the provisions
				  of subsection (b) of Section
				  1737.3 of these rules.
1. New
					 section filed 3-3-52; effective thirtieth day thereafter (Register 27, No.
					 5).
2. Editorial correction adding NOTE filed 4-6-83 (Register 83,
					 No. 15).
3. Amendment of section and NOTE filed 7-21-2003; operative
					 7-21-2003 pursuant to Government Code section
					 11343.4
					 (Register 2003, No. 30).
Note: Authority cited: Section
						17400,
						Financial Code. Reference: Sections
						17403.5,
						17404,
						17415 and
						17603,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 4 - Books, Records and Accounts › Section 1741.2 - Drawing of Checks

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A check shall not be drawn, executed or dated prior to the
					 existence, in the particular escrow account against which it is drawn, executed
					 or dated, of a sufficient credit balance to cover said check.
1. New
					 section filed 3-3-52; effective thirtieth day thereafter (Register 27, No.
					 5).
2. Editorial correction adding NOTE filed 4-6-83 (Register 83,
					 No. 15).
3. Editorial correction of printing error (Register 91, No.
					 33).
Note: Authority cited: Sections
						17400 and
						17401,
						Financial Code. Reference: Sections
						17404,
						17415 and
						17603,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 4 - Books, Records and Accounts › Section 1741.3 - Statement of Account

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Upon completion of an escrow transaction an escrow agent
					 shall render to each principal to the escrow transaction a statement of his
					 account in writing. Such statement shall specify all receipts and disbursements
					 of escrow funds for his account. Charges made by the escrow agent for his
					 services, and all disbursements by the escrow agent to a broker or salesman in
					 connection with an escrow transaction shall be clearly designated as such and
					 shall be shown separately from disbursements of the escrow agent. Payments
					 outside of escrow, if shown in the statement, shall be set forth separately
					 from payments by or to the escrow agent. Internet escrow agents may transmit
					 the statement of account electronically over the Internet to the principals to
					 the escrow transaction. In the event a person is not able to electronically
					 receive the statement of account, the Internet escrow agent shall mail a true
					 and correct copy of the statement of account within 24 hours of its
					 completion.
1. New
					 section filed 3-3-52; effective thirtieth day thereafter (Register 27, No.
					 5).
2. Editorial correction adding NOTE filed 4-6-83 (Register 83,
					 No. 15).
3. Amendment of section and NOTE filed 7-21-2003; operative
					 7-21-2003 pursuant to Government Code section
					 11343.4
					 (Register 2003, No. 30).
Note: Authority cited: Section
						17400,
						Financial Code. Reference: Sections
						17403.3,
						17403.5,
						17404,
						17415,
						17601 and
						17603,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 4 - Books, Records and Accounts › Section 1741.4 - Copy of Statement of Account. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 3-3-52; effective thirtieth day thereafter (Register 27, No.
					 5).
2. Repealer filed 6-27-74; effective thirtieth day thereafter
					 (Register 74, No. 26).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 4 - Books, Records and Accounts › Section 1741.6 - Internet Escrow Agent "Click-Through" Fees

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The prohibition against the payment by an escrow agent of
					 fees, commissions, or other consideration as compensation for referring,
					 soliciting, handling, or servicing escrow customers or accounts, as set forth
					 in Section
					 17420 of the Code, does not apply
					 to a written contract between an Internet escrow agent licensed under the
					 Escrow Law and an owner of an Internet web site for the establishment of a
					 hypertext on that web site for the exclusive purpose of receiving personal
					 property escrows for the deposit or delivery by the Internet escrow agent
					 pursuant to transactions on the Internet web site; provided, that the Internet
					 escrow agent and the owner of the Internet web site are doing business
					 exclusively on the Internet. For the purpose of this section, "hypertext" means
					 an electronic document on a web site page that contains a link to another
					 document that requires an affirmative act to click-on the link to display or
					 otherwise access the document.
1. New
					 section filed 7-5-2001; operative 8-4-2001 (Register 2001, No.
					 27).
Note: Authority cited: Section
						17400,
						Financial Code. Reference: Section
						17420,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 5 - Advertising [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer of
				  article 5 (sections
				  1742-1744) filed 12-16-97;
				  operative 1-15-98 (Register 97, No. 51). For prior history, see Register 83,
				  No. 33 and Register 85, No. 21.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 6 - Accusations and Hearings [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer of
				  Article 6 (Sections
				  1749-1753) filed 12-3-81;
				  effective thirtieth day thereafter (Register 81, No. 49). For prior history,
				  see Register 74, No. 26.
2. Editorial correction of HISTORY 1
				  (Register 95, No. 16).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 7 - Guarantee of Trust Obligations › Section 1760 - Rules and Amendments to Rules and Plan of Operation to be Submitted to the Commissioner

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Rules and amendments to the rules and plan of operation
					 established by the board of directors of Fidelity Corporation pursuant to
					 Section
					 17313 of
					 the Financial Code shall be submitted in writing to the Commissioner for
					 approval.
1. New
					 article 7 (sections
					 1760-1769) filed 9-19-83;
					 effective thirtieth day thereafter (Register 83, No. 39). For history of former
					 section 1760, see Register 81, No.
					 49.
2. Change without regulatory effect filed 3-10-86; effective
					 thirtieth day thereafter (Register 86, No. 11).
3. Editorial
					 correction of printing error in section (Register 96, No.
					 52).
Note: Authority cited: Section
						17315,
						Financial Code. Reference: Sections
						17310,
						17311,
						17312,
						17313,
						17315 and
						17347,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 7 - Guarantee of Trust Obligations › Section 1761 - Location of Office and Records

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Fidelity Corporation shall maintain its office and records
					 in California and shall promptly notify the Commissioner in writing of the
					 location of such office and records. Fidelity Corporation shall not change the
					 location of its office and records until written notice has been given the
					 Commissioner. Such notice must be filed at least five (5) business days prior
					 to the proposed change.
1. Change
					 without regulatory effect filed 3-10-86; effective thirtieth day thereafter
					 (Register 86, No. 11). For history of former section
					 1761, see Register 75, No.
					 27.
2. Editorial correction of printing errors in section (Register
					 96, No. 52).
Note: Authority cited: Section
						17315,
						Financial Code. Reference: Sections
						17333 and
						17344,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 7 - Guarantee of Trust Obligations › Section 1762 - Accounting and Fiscal Year

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Fidelity Corporation shall maintain its records on an
					 accrual basis and in accordance with generally accepted accounting principles
					 and good business practice. The selection of the fiscal year end shall be
					 subject to the approval of the Commissioner.
1. Change
					 without regulatory effect filed 3-10-86; effective thirtieth day thereafter
					 (Register 86, No. 11).
2. Editorial renumbering of section
					 1762"Office for Transaction of
					 Business" of subchapter 10 to section
					 1770 to correct duplication of
					 section numbers (Register 90, No. 20). For history of section
					 1762"Office for Transaction of
					 Business," see Register 82, No. 42.
3. Editorial correction of
					 printing error (Register 91, No. 33).
Note: Authority cited: Section
						17315,
						Financial Code. Reference: Sections
						17315,
						17320,
						17339 and
						17344,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 7 - Guarantee of Trust Obligations › Section 1763 - Custodian, Trustee or Management Agency Account

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The board of directors of Fidelity
				  Corporation shall appoint a bank located in this State as custodian of any
				  funds collected or investments made by it. The custodian shall be responsible
				  for the safekeeping of all such funds and investments and evidences
				  thereof.
(b) In lieu of appointing
				  a custodian, the board of directors of Fidelity Corporation may either appoint
				  a bank to act as trustee or create a management agency account with a bank. The
				  appointment of a custodian or trustee, or the creation of a management agency
				  account shall be reported to the Commissioner at least (5) business days before
				  the making of such an appointment or the creation of such account. Any such
				  appointment or agreement must be acceptable to the Commissioner.
1. Change
					 without regulatory effect filed 3-10-86; effective thirtieth day thereafter
					 (Register 86, No. 11). For history of former section
					 1763, see Register 81, No.
					 49.
Note: Authority cited: Sections
						17315 and
						17337,
						Financial Code. Reference: Sections
						17310,
						17315,
						17320,
						17333 and
						17337,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 7 - Guarantee of Trust Obligations › Section 1764 - Bond

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
If the board of directors of Fidelity Corporation appoints
					 a bank as custodian as described in Section
					 1763 (a) of these
					 rules, Fidelity Corporation must obtain adequate fidelity bond coverage for its
					 own officers, directors and employees. The bond must be in a form and in an
					 amount acceptable to the Commissioner.
1. Change
					 without regulatory effect filed 3-10-86; effective thirtieth day thereafter
					 (Register 86, No. 11). For history of former section
					 1764, see Register 81, No.
					 49.
2. Editorial correction of printing error in section (Register
					 96, No. 52).
Note: Authority cited: Section
						17315,
						Financial Code. Reference: Sections
						17310,
						17315,
						17333,
						17337 and
						17334,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 7 - Guarantee of Trust Obligations › Section 1765 - Officers, Directors and Employees: Maintenance of Current List with Commissioner

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Fidelity Corporation shall at all times maintain on file
					 with the Commissioner a current list of its officers, directors and employees.
					 Any change of such persons shall be reported to the Commissioner within five
					 (5) business days of such change. Each officer, director and employee shall
					 file a statement of information on a form provided by the
					 Commissioner.
1. Change
					 without regulatory effect filed 3-10-86; effective thirtieth day thereafter
					 (Register 86, No. 11). For history of former section
					 1765, see Register 81, No.
					 49.
2. Editorial correction of printing error in section (Register
					 96, No. 52).
Note: Authority cited: Section
						17315,
						Financial Code. Reference: Sections
						17315,
						17333,
						17336 and
						17344,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 7 - Guarantee of Trust Obligations › Section 1766 - Payment of Assessment: Default

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
When a default previously reported pursuant to Section
					 17323 of
					 the Financial Code has been cured, Fidelity Corporation shall notify the
					 Commissioner of such action in writing. Fidelity Corporation shall regularly
					 inform the Commissioner of the progress of any action to enforce any payment in
					 default.
1. Change
					 without regulatory effect filed 3-10-86; effective thirtieth day thereafter
					 (Register 86, No. 11). For history of former section
					 1766, see Register 81, No.
					 49.
2. Editorial correction of printing error in section (Register
					 96, No. 52).
Note: Authority cited: Section
						17315,
						Financial Code. Reference: Sections
						17323,
						17333,
						17344,
						17415 and
						17608,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 7 - Guarantee of Trust Obligations › Section 1767 - Investments: Limitation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Fidelity Corporation may invest its funds only in
					 investments legal for savings banks under the laws of this
					 state.
1. Change
					 without regulatory effect filed 3-10-86; effective thirtieth day thereafter
					 (Register 86, No. 11). For history of former section
					 1767, see Register 81, No.
					 49.
Note: Authority cited: Sections
						17315 and
						17337,
						Financial Code. Reference: Sections
						17315,
						17333,
						17337 and
						17344,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 7 - Guarantee of Trust Obligations › Section 1768 - Evidence of Membership. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Change
					 without regulatory effect filed 3-10-86; effective thirtieth day thereafter
					 (Register 86, No. 11). For history of former section
					 1768, see Register 81, No.
					 49.
2. Repealer filed 12-16-97; operative 1-15-98 (Register 97, No.
					 51).
Note: Authority cited: Section
						17315,
						Financial Code. Reference: Sections
						17342 and
						17344,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 7 - Guarantee of Trust Obligations › Section 1769 - Annual Report

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
On or before 105 days after each fiscal year end, Fidelity
					 Corporation shall file with the Commissioner audited financial statements
					 prepared in accordance with generally accepted accounting principles and
					 generally accepted auditing standards. The report shall include a list of
					 members' account balances. A copy of the annual report shall be sent to each
					 member of Fidelity Corporation upon request.
1. Change
					 without regulatory effect filed 3-10-86; effective thirtieth day thereafter
					 (Register 86, No. 11).
Note: Authority cited: Section
						17315,
						Financial Code. Reference: Sections
						17320,
						17333 and
						17344,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 1 - General Provisions [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Change
				  without regulatory effect repealing article 1 (section
				  1770) filed 6-26-96 pursuant to
				  section 100, title 1, California Code of
				  Regulations (Register 96, No. 26).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 2 - Applications › Section 1772 - Verified Applications. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 3-27-52; effective thirtieth day thereafter (Register 59, No.
					 1).
2. Repealer filed 12-3-81; effective thirtieth day thereafter
					 (Register 81, No. 49).
Note: Authority cited and Reference: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 2 - Applications › Section 1772.1 - Corporations. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 12-31-58; effective thirtieth day thereafter (Register 59, No.
					 1).
2. Editorial correction of NOTE filed 10-13-82 (Register 82, No.
					 42).
3. Change without regulatory effect repealing section filed
					 2-28-2000 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2000, No. 9).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 2 - Applications › Section 1773 - Form of Applications. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
					 filed 12-3-81; effective thirtieth day thereafter (Register 81, No.
					 49).
Note: Authority cited and Reference: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 2 - Applications › Section 1774 - Additional Information. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 3-20-78; effective thirtieth day thereafter (Register 78, No.
					 12).
2. Repealer filed 12-MI; effective thirtieth day thereafter
					 (Register 81, No. 49).
Note: Authority cited and Reference: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 2 - Applications › Section 1775 - Type of Business

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An applicant shall specifically designate in which of the
					 following types of business it proposes to engage:
(a) Check selling.
(b) Bill paying.
(c) General prorater.
(d) Special prorater (business agent).
Whenever the term "prorater" is used in these regulations
					 with reference to a licensee it shall refer to a general prorater and not a
					 special prorater unless otherwise provided.
1. Amendment
					 filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Amendment filed 12-31-58; effective thirtieth day thereafter
					 (Register 59, No. 1).
3. Editorial correction filed 10-13-82
					 (Register 82, No. 42).
4. Change without regulatory effect repealing
					 subsections (a) and renumbering following subsections filed 1-3-92 pursuant to
					 section 100, title 1, California Code of
					 Regulations (Register 92, No. 12).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Section
						12200.5,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 2 - Applications › Section 1776 - Statutory Bond. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 3-Z7-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Amendment filed 12-31-58; effective thirtieth clay thereafter
					 (Register 59, No. 1).
3. Repealer filed 12-3-81; effective thirtieth
					 day thereafter (Register 81, No. 49).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Sections
						12206-
						12212,Financial
						Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 2 - Applications › Section 1777 - Additional Bond. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
					 filed 12-3-81; effective thirtieth day thereafter (Register 81, No.
					 49).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Section
						12213,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 2 - Applications › Section 1778 - Required Liquid Assets and Net Worth; Check Casher. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
					 filed 12-3-81; effective thirtieth day thereafter (Register 81, No.
					 49).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Section
						12205,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 2 - Applications › Section 1779 - Required Liquid Assets and Net Worth. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Amendment filed 12-31-58; effective thirtieth day thereafter
					 (Register 59, No. 1).
3. Repealer filed 12-3-81; effective thirtieth
					 day thereafter (Register 81, No. 49).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Section
						12205,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 2 - Applications › Section 1780 - Liquid Assets Defined

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The term "liquid assets" as referred to in Section
					 12205 of
					 the Financial Code includes the following:
(a) Cash in hand or in bank.
(b) Cash in transit.
(c) Securities listed on the stock exchange
				  or whose marketability and value is established by satisfactory
				  proof.
(d) United States
				  Bonds.
(e) Bonds of state and
				  government units whose marketability and value is established by satisfactory
				  proof.
(f) Investments in savings
				  and loan associations and other financial institutions upon satisfactory proof
				  that the funds of the licensee are readily available upon demand.
(g) Other securities and property having a
				  market value upon satisfactory proof of marketability and value.
The Department does not favorably consider investments in
					 securities such as second trust deeds as "liquid assets" where the
					 determination of value requires investigation into collateral matters such as
					 value of property securing the note, and considerations of senior liens on the
					 property, and where there is not a clear showing of a well-established market
					 for such securities.
The Department does not favorably consider as "liquid
					 assets" such assets of the licensee, which if sold would affect the ability the
					 licensee, which if sold would affect the ability of the licensee to carry on
					 its business.
In a determination by specific ruling whether a particular
					 asset is a liquid asset within the meaning of Section
					 12205 of
					 the Financial Code, the rule to be followed is that the stated value of the
					 asset is the price at which the asset is immediately marketable at a forced
					 sale.
1. Amendment
					 filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Amendment filed 12-31-58; effective thirtieth day thereafter
					 (Register 59, No. 1).
3. Amendment filed 3-20-78; effective
					 thirtieth day thereafter (Register 78, No. 12).
4. Editorial
					 correction of subsection (g) and NOTE filed 10-13-82 (Register 82, No.
					 42).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Section
						12205,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 2 - Applications › Section 1781 - Fictitious Firm Names

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An applicant who desires to conduct his business under a
					 fictitious firm name shall file with the Commissioner a certificate of the
					 county clerk showing compliance with the provisions of Chapter 5 (commencing
					 with Section
					 17900) of Part 3 of Division 7 of
					 the Business and Professions Code.
1. New
					 section filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Editorial correction of NOTE filed 10-13-82 (Register 82, No.
					 42).
3. Change without regulatory effect amending section filed
					 1-3-92 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 92, No. 12).
4. Change without regulatory
					 effect amending section and NOTE filed 6-26-96 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 96, No. 26).
5. Change without regulatory
					 effect amending section filed 2-28-2000 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2000, No. 9).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Sections
						12217 and
						12300.2,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 2 - Applications › Section 1782 - Fictitious Employee Names

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The use of an alias or fictitious name by an officer,
					 agent, employee or representative of a licensee without the written consent of
					 the Commissioner will be considered a dishonest, unfair and inequitable
					 practice.
1. New
					 section filed 12-31-58; effective thirtieth day thereafter (Register 59, No.
					 1).
2. Editorial correction of NOTE filed 10-13-82 (Register 82, No.
					 42).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1784 - Maintenance of Books. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
					 filed 8-9-83; effective thirtieth day thereafter (Register 83, No.
					 33).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1784.1 - Trust Account. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Amendment filed 12-31-58; effective thirtieth day thereafter
					 (Register 59, No. 1).
3. Repealer filed 8-9-83; effective thirtieth
					 day thereafter (Register 83, No. 33).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1784.2 - Transmission by Agent. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Amendment filed 12-31-58; effective thirtieth day thereafter
					 (Register 59, No. 1).
3. Repealer filed 8-9-83; effective thirtieth
					 day thereafter (Register 83, No. 33).
Note: Authority, cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1785 - Annual Report. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
					 filed 8-9-83; effective thirtieth day thereafter (Register 83, No.
					 33).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1786 - Offices Open for Inspection. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
					 filed 8-9-83; effective thirtieth day thereafter (Register 83, No.
					 33).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1787 - Date of Annual Report. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Repealer filed 8-9-83; effective thirtieth day thereafter
					 (Register 83, No. 33).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Section
						12304,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1787.2 - Independent Accountant. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 12-16-68; effective thirtieth day thereafter (Register 68, No.
					 48).
2. Repealer filed 8-9-83; effective thirtieth day thereafter
					 (Register 83, No. 33).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1788 - Special Reports. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Repealer filed 8-9-83; effective thirtieth day thereafter
					 (Register 83, No. 33).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1789 - Special Examinations. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Repealer filed 8-9-83; effective thirtieth day thereafter
					 (Register 83, No. 33).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1789.1 - Accounting Records. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Repealer filed 8-9-83; effective thirtieth day thereafter
					 (Register 83, No. 33).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1789.2 - Posting Dates

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
All receipts and disbursements of money shall be posted as
					 of the date of the receipt or disbursement, regardless of the date of
					 posting.
1. New
					 section filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Amendment filed 8-9-83; effective thirtieth day thereafter
					 (Register 83, No. 33).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Section
						12303,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1789.3 - Reconciling Bank Accounts

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A licensee shall reconcile all of its bank accounts with
					 his accounting records at least once each month.
1. New
					 section filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Amendment filed 8-9-83; effective thirtieth day thereafter
					 (Register 83, No. 33).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Section
						12303,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1789.4 - Accounting Records of Proraters

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A licensee engaged in the business of prorating, in
					 addition to the accounting records required by Section
					 12303 of
					 the Financial Code, shall maintain an individual ledger account of each
					 customer. The ledger shall show:
(1)
				  All receipts and disbursements of money posted to the individual ledger
				  accounts on or before the end of the next business day after receipt or
				  disbursement.
(2) Balance of funds
				  held for customer's account.
(3)
				  All of the data necessary to prepare the statement required by Section
				  1789.6 of these rules.
1. New
					 section filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Amendment filed 1-22-74; effective thirtieth day thereafter
					 (Register 74, No. 4).
3. Amendment filed 8-9-83; effective thirtieth
					 day thereafter (Register 83, No. 33).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Sections
						12303 and
						12322 Financial
						Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1789.5 - Preservation of Documents. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Repealer filed 8-9-83; effective thirtieth day thereafter
					 (Register 83, No. 33).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1789.6 - Statements of Account

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A licensee engaged in the business of prorating, upon
					 closing an account shall immediately render to the customer a statement in
					 writing showing the following:
(1)
				  Total funds received by the prorater from or on behalf of the
				  customer.
(2) Total disbursements
				  made to each of the customer's creditors by the prorater.
(3) The total amount which any creditor has
				  agreed to accept as payment in full on any debt owed him by the
				  debtor.
(4) Amount and type of
				  charges paid to the prorater by the debtor.
(5) Balance of customer's account at the
				  closing of the account.
(6) That
				  all funds held in the customer's account have been returned to the
				  customer.
1. New
					 section filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Amendment filed 1-22-74; effective thirtieth day thereafter
					 (Register 74, No. 4).
3. Amendment filed 8-9-83; effective thirtieth
					 day thereafter (Register 83, No. 33).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Sections
						12300.3,
						12314,
						12314.1 and
						12316,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1789.7 - Copies of Statements of Account. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Amendment filed 1-22-74; effective thirtieth day thereafter
					 (Register 74, No. 4).
3. Repealer filed 8-9-83; effective thirtieth
					 day thereafter (Register 83, No. 33).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1789.8 - Advertising

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) All advertising
				  (written, printed, radio, television, or of any other nature) of a prorater
				  shall be submitted in duplicate to the Commissioner for examination.
				  Advertising shall not be used by a prorater until the Commissioner has notified
				  the licensee in writing that the use of said advertising is not
				  disapproved.
(b) A prorater shall
				  not use any advertising copy after the use thereof has been disapproved by the
				  Commissioner and the company notified in writing of such disapproval.
1. New
					 section filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Amendment filed 12-31-58; effective thirtieth day thereafter
					 (Register 59, No. 1).
3. Amendment filed 1-22-74; effective
					 thirtieth day thereafter (Register 74, No. 4).
4. Amendment filed
					 8-9-83; effective thirtieth day thereafter (Register 83, No.
					 33).
Note: Authority cited: Sections
						12300 and
						12303,
						Financial Code. Reference: Sections
						12311 and
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1789.9 - Advertising Copy

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The copy for written or printed advertising shall be
					 submitted in the following manner:
(a)
				  Printers proof showing the makeup of the advertising as it will be printed
				  publication, or
(b) A reasonable
				  approximation of the proposed advertising showing the arrangement of the type
				  and any illustrations to be used. The various sizes of type to be used should
				  be designated.
1. New
					 Sections 1789.9 through
					 1789.13 filed 12-31-58; effective
					 thirtieth day thereafter (Register 59, No. 1).
2. Editorial
					 correction of NOTE filed 4-6-83 (Register 83, No.
					 15).
Note: Authority cited: Sections
						12300 and
						12330,
						Financial Code. Reference: Sections
						12311 and
						12330,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1789.10 - "Blind" Advertising Prohibited

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A prorater shall not use so-called "blind" advertisements.
					 An example of "blind" advertising is an advertisement giving only telephone
					 number, post office, or newspaper box numbers, or name other than that of the
					 prorater. An advertisement shall include the name of the
					 advertiser.
1. Editorial
					 correction adding NOTE filed 4-6-83 (Register 83, No.
					 15).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Sections
						12311 and
						12330,
						Financial Code.