§ 17200 Escrow Agent Licensing Requirements

• •Only a corporation can be an escrow agent in the state.
• •The corporation must be organized specifically for escrow work.
• •The corporation must have a license from the state commissioner.

Jane wants to help two people trade a house by holding the money until the deal is done, but she isn’t a corporation and has no state license.

Because Jane is just an individual, the law says she can’t act as an escrow agent. She would have to set up a corporation and get a license from the commissioner before she could do that job.