CA AB1704

Authorizes the Insurance Commissioner to license an underwritten title company to engage in escrow business in all counties of California with a single application instead of requiring separate county applications.

Requires underwritten title companies seeking to expand escrow business to pay a one-time fee of $449 or the reasonable regulatory cost, whichever is less.

Allows underwritten title companies to engage in escrow activities in their licensed counties on properties located outside California, provided such activities comply with the laws of the other state or country.

Makes technical clarifications to existing requirements for underwritten title companies, including maintaining net worth standards, obtaining licenses, and conducting annual audits.

Maintains existing requirements for escrow deposits of $7,500 per county and record-keeping of receipts and disbursements.