CA Insurance Code says funds paid to Title/Escrow can be personal ck. up to $1500., up to $5k can be cashier's ck, over $5k must be wired.
Last week an Eastern Title wanted me to collect a cqashier's ck for $103k.
As a representative of the Title Co., am I bound to that law?
CA Sec of State rules with a heavy hand. I asked the NNA hotline, they told me to ask a lawyer (thanks there).
The purpose of the law is to protect Title Cos from fraud. I had them send a separate label so B could send
under separate cover.
Any feedback? |
