2010 California Code
Financial Code
Article 1. Definitions

17300.  "Fidelity Corporation" means the Escrow Agents' Fidelity
Corporation.


17301.  "Member" means any person licensed under this division who
is required by Section 17312 to be a member of Fidelity Corporation.



17302.  "Trust obligation" means:
   (a) All money and property deposited with a member within the
State of California in an escrow or joint control transaction.
   (b) All money and property deposited with a member to be held in
trust within the State of California pursuant to a federal or state
statute or requirements of a governmental agency.



17303.  "Commissioner" means the Commissioner of Corporations.



17304.  "Loss," within the meaning of this chapter, means the loss
of trust obligations held by a member within the State of California
as a result of the fraudulent or dishonest abstraction,
misappropriation, or embezzlement of trust obligations by an officer,
director, trustee, stockholder, manager, or employee of a member.




17305.  "Monthly average escrow liability," as used in this chapter,
means the average escrow liability for the 12-month period as
reported in the most recent report made by the member to the
commissioner pursuant to Section 17348.