California Civil Code

§ 8726

CIV § 8726 Effective Jan 1, 2011Div. 4 · Title 2 · Part 6 · Ch. 7 · Art. 3

Statute text

An escrow account under this chapter shall satisfy all of the following requirements:

(a)The account shall be designated as a “construction security escrow account.”

(b)The account shall be located in this state and maintained with an escrow agent licensed under the Escrow Law, Division 6 (commencing with Section 17000) of the Financial Code, or with any person exempt from the Escrow Law under paragraph (1) or (3) of subdivision (a) of Section 17006 of the Financial Code.

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Legislative history

Added by Stats. 2010, Ch. 697, Sec. 20. (SB 189) Effective January 1, 2011. Operative July 1, 2012, by Sec. 105 of Ch. 697 and by Section 8052.