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Earlier editions: 2020-112018-11

DIVISION 6. ESCROW AGENTS 17000-17703›CHAPTER 2.5. Escrow Agents’ Fidelity Corporation 17300-17350›ARTICLE 3. Membership Fee and Assessments 17320-17324

§ 17321.1

California Financial Code · 2026 edition · updated 2026-10-04 · California

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.)

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California Financial Code

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