§ 17609 Escrow License Revocation Effects

Financial Code·California

AI SummaryVerified

This law says that if an escrow agent loses their license, old escrow deals stay valid, but they can't take new money or papers for new deals.

Key Takeaways

•Old escrow deals stay safe even if the agent loses their license.
•The agent can't take new money or papers for new deals after losing their license.
•This rule is about protecting deals that were already happening.

Example

You hired an escrow agent to hold money for buying a house. Their license gets taken away while your deal is still going.

Your house deal is still okay, but the agent can't take any new money or papers for other deals.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 17609 Escrow License Revocation Effects

The revocation, suspension, surrender or expiration of an escrow agent’s license does not impair or affect pre-existing escrows lawfully contracted, but nothing contained in this division shall be deemed to authorize the acceptance of further funds or documents into escrow subsequent to such revocation, surrender or expiration or during any period of suspension. (Amended by Stats. 1955, Ch. 261.)

Last verified: January 11, 2026

Key Terms

revocation suspension surrender expiration escrow agent’s license pre-existing escrows further funds or documents

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 17609.

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Key Takeaways

Example

Key Terms

Related Statutes

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