Bill Text: CA SB484 | 2023-2024 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Escrow agents: customer contact centers.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed) 2023-09-01 - September 1 hearing postponed by committee. [SB484 Detail]

Download: California-2023-SB484-Introduced.html

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CALIFORNIA LEGISLATURE— 2023–2024 REGULAR SESSION

Senate Bill

No. 484

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Introduced by Senator Newman

February 14, 2023

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An act to amend Section 17005.3 of the Financial Code, relating to escrow agents.

LEGISLATIVE COUNSEL'S DIGEST

SB 484, as introduced, Newman. Escrow agents: customer contact centers.

Existing law, the Escrow Law, regulates escrow agents. The Escrow Law defines various terms for these purposes, including “customer contact center” as a facility operated by an Internet escrow agent, as defined by the Escrow Law, that exists solely for the purpose of responding to customer electronic messages and telephone inquiries, subject to specified limitations.

This bill would change the definition of “customer contact center” to mean a facility operated by an escrow agent, as defined by the Escrow Law, for the purpose of remotely accessing an escrow file to further the processing of the escrow, including, but not limited to, customer electronic messages and telephone inquiries, subject to specified limitations.

Digest Key

Vote: MAJORITY   Appropriation: NO   Fiscal Committee: YES   Local Program: NO  

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Bill Text

The people of the State of California do enact as follows:

SECTION 1.

 Section 17005.3 of the Financial Code is amended to read:

17005.3.

 “Customer contact center” means a facility operated by an Internet escrow agent that exists solely for the purpose of responding to remotely accessing an escrow file to further the processing of the escrow, including, but not limited to, customer electronic messages and telephone inquiries; provided, that no receipt or disbursements relating to an escrow are made from the facility; and provided further, that any documentation or other material generated, transmitted, or otherwise sent from the facility can be reviewed at any time from the business location of the Internet escrow agent.