Financial Code section 12301.5

No agent of a licensee shall issue or cause to be issued any check, draft, or money order, or other commercial paper serving the same purpose which is drawn upon the trust account of a licensee without concurrently receiving in full, in cash, or by check, draft, or money order from a third party believed to be valid, the principal amount thereof.

Source: Section 12301.5, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=12301.5. (accessed Apr. 24, 2025).

Last Updated

Apr. 24, 2025

§ 12301.5’s source at ca.gov

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Location: https://california.public.law/codes/financial_code_section_12301.5

Original Source: Section 12301.5, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=12301.5. (last accessed Apr. 24, 2025).