Cal. Code Regs. tit. 10 § 1740.4

Current through Register 2024 Notice Reg. No. 44, November 1, 2024

Section 1740.4 - Transfers Between Escrows

(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.

Cal. Code Regs. Tit. 10, § 1740.4

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.

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).