BILL NUMBER: AB 1169	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Daly

                        FEBRUARY 22, 2013

   An act to amend Section 17421 of the Financial Code, relating to
escrow agents.


	LEGISLATIVE COUNSEL'S DIGEST


   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 1.  Section 17421 of the Financial Code is amended to read:

   17421.  Notwithstanding  the provisions of 
Section 17420, a disbursal, other than for a fee, commission  ,
 or compensation may be advanced or paid out  prior to
  before  the close of an escrow  ,  if
the written instructions of all parties to the transaction so
provide.