2011 California Code
Insurance Code
DIVISION 2. CLASSES OF INSURANCE [1880 - 12865]
ARTICLE 6. Rebates and Commissions
Section 12413.2
Any item or draft received by a title insurance company, controlled escrow company, or underwritten title company in connection with any escrow shall be deposited in, or submitted for collection to, a financial institution as defined in Section 12413 no later than the close of the next business day following receipt.
For purposes of this section, item means any check, including a cashier s check, negotiable order of withdrawal, share draft, traveler s check, or money order.
(Added by Stats. 1988, Ch. 389, Sec. 1.)
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