§ 12413.2
75 words·~1 min read·
/ca/insurance-code/12413-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.