2005 California Financial Code Sections 33720-33725 Article 2. Proceeds From Sales of Payment Instruments

33720.  The provisions of this article do not apply with respect to
any California agent which is an insured bank, an insured savings and
loan association, or an insured credit union.
33721.  No provision of this article shall be construed to prevent
any licensee from taking any legal action necessary to enforce any
claim which such licensee may have.
33722.  All funds (less fees) received by any California agent of a
licensee from the sale of any payment instrument issued by such
licensee shall, from the time when such funds are received by such
agent until the time when the funds or an equivalent amount is
remitted by the agent to the licensee in accordance with Article 4
(commencing with Section 33740) of this chapter, constitute trust
funds owned by and belonging to the licensee.
33723.  No California agent of a licensee shall, nor shall any
licensee cause or permit any of its California agents to, commingle
any funds (less fees) received from the sale by such agent of any
payment instrument issued by such licensee with any other property
owned or controlled by the agent or use such funds for any purpose
other than to remit the funds to the licensee in accordance with
Article 4 (commencing with Section 33740) of this chapter; provided,
however, that any California agent of a licensee may, before
remitting funds (less fees) received from the sale by such agent of
any payment instrument issued by such licensee in accordance with
Article 4 of this chapter and unless the agent and the licensee
provide to the contrary in the contract called for in Section 33700,
commingle such funds with any other funds owned or controlled by it
and use the funds in the ordinary course of its business for the
purpose of making change or cashing payment instruments, checks, or
drafts believed by it to be collectible.
33724.  If any California agent of a licensee shall commingle any
funds (less fees) received from the sale by such agent of any payment
instrument issued by such licensee with any other property owned or
controlled by the agent, all such property shall be impressed with a
trust in favor of the licensee in an amount equal to the aggregate
amount of such funds so commingled.
33725.  No funds (less fees) received by any California agent of a
licensee from the sale of any payment instrument issued by such
licensee, while held by such agent, nor any property impressed with a
trust pursuant to Section 33724 shall be subject to attachment, levy
of execution, or sequestration by order of any court, except for the
benefit of the licensee.