AB 1169, as introduced, Daly. Escrow agents.
The Escrow Law regulates the activities of escrow agents, as defined, including, but not limited to, authorizing a disbursal to be advanced or paid out before the close of an escrow, as specified.
This bill would make nonsubstantive changes to this provision.
Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.
The people of the State of California do enact as follows:
Section 17421 of the Financial Code is amended
2to read:
Notwithstandingbegin delete the provisions ofend delete Section 17420, a
4disbursal, other than for a fee, commissionbegin insert,end insert or compensation may
5be advanced or paid outbegin delete prior toend deletebegin insert beforeend insert the close of an escrowbegin insert,end insert if
6the written instructions of all parties to the transaction so provide.
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