Form DBO-EL302 "Application for a License to Establish a Branch Office" - California

What Is Form DBO-EL302?

This is a legal form that was released by the California Department of Business Oversight - a government authority operating within California. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on May 1, 2017;
  • The latest edition provided by the California Department of Business Oversight;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;

Download a fillable version of Form DBO-EL302 by clicking the link below or browse more documents and templates provided by the California Department of Business Oversight.

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Download Form DBO-EL302 "Application for a License to Establish a Branch Office" - California

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STATE OF CALIFORNIA – DEPARTMENT OF BUSINESS OVERSIGHT
APPLICATION FOR A LICENSE TO ESTABLISH A BRANCH OFFICE
DBO-EL 302 (Rev. 5-17)
DBO USE ONLY
Fee Paid $_______
Receipt No.___________
---------------------------------------------------- ------------
IN THE MATTER OF THE APPLICATION OF
File No.
________
FOR A LICENSE TO ESTABLISH A
Date
, 20___
BRANCH OFFICE AT
(ANSWER ALL QUESTIONS.)
The application must be accompanied by a filing fee of $425.00 for each office or location
AND an investigation fee of $100.00 (Section 17207, Financial Code).
In pursuance of, and in compliance with the provisions of the Escrow Law and for the
purposes in said Law set forth, the undersigned corporation with offices located at:
(a) PRINCIPAL OFFICE:
_______________________________________________________________________
(County)
(Name and Street)
(City)
(Zip Code)
(b) ADDITIONAL LOCATIONS PRESENTLY LICENSED: (Attach list as Exhibit if space is
insufficient)
hereby applies to the Commissioner of Business Oversight for a license to establish a branch
office to be opened on or about ______________________ 20___ ; and, for the purpose of
securing same applicant makes the foregoing and following sworn statements of fact:
1.
(a) Date of Incorporation: _______________________________________________
(b) State of Incorporation: __________________________________________________________________
STATE OF CALIFORNIA – DEPARTMENT OF BUSINESS OVERSIGHT
APPLICATION FOR A LICENSE TO ESTABLISH A BRANCH OFFICE
DBO-EL 302 (Rev. 5-17)
DBO USE ONLY
Fee Paid $_______
Receipt No.___________
---------------------------------------------------- ------------
IN THE MATTER OF THE APPLICATION OF
File No.
________
FOR A LICENSE TO ESTABLISH A
Date
, 20___
BRANCH OFFICE AT
(ANSWER ALL QUESTIONS.)
The application must be accompanied by a filing fee of $425.00 for each office or location
AND an investigation fee of $100.00 (Section 17207, Financial Code).
In pursuance of, and in compliance with the provisions of the Escrow Law and for the
purposes in said Law set forth, the undersigned corporation with offices located at:
(a) PRINCIPAL OFFICE:
_______________________________________________________________________
(County)
(Name and Street)
(City)
(Zip Code)
(b) ADDITIONAL LOCATIONS PRESENTLY LICENSED: (Attach list as Exhibit if space is
insufficient)
hereby applies to the Commissioner of Business Oversight for a license to establish a branch
office to be opened on or about ______________________ 20___ ; and, for the purpose of
securing same applicant makes the foregoing and following sworn statements of fact:
1.
(a) Date of Incorporation: _______________________________________________
(b) State of Incorporation: __________________________________________________________________
STATE OF CALIFORNIA –DEPARTMENT OF BUSINESS OVERSIGHT
APPLICATION FOR A LICENSE TO ESTABLISH A BRANCH OFFICE
DBO - EL 302 (Rev. 5-17) Page 2 of 6
2.
Applicant will do business as (check one or more boxes):
[ ] Escrow Agent – Branch office
[ ] Joint Control Agent – Branch office
[ ] Internet Escrow Agent – Branch office
3.
Names of officers and directors:
Full first and middle names MUST be given; if no middle name, please so indicate.
(Attach list as Exhibit if space is insufficient)
President: _________________________________________________________
Vice President: _____________________________________________________
Secretary: _________________________________________________________
Treasurer: _________________________________________________________
Other Officers (If any): ________________________________________________
__________________________________________________________________
Directors: __________________________________________________________
__________________________________________________________________
__________________________________________________________________
4.
Names of stockholders: (Attach list as Exhibit if space is insufficient)
__________________________________________________________________
__________________________________________________________________
__________________________________________________________________
__________________________________________________________________
5.
Name of the person proposed as manager and claiming the qualifications of Financial
Code (“FC”) Section 17200.8 is:
__________________________________________________________________
STATE OF CALIFORNIA –DEPARTMENT OF BUSINESS OVERSIGHT
APPLICATION FOR A LICENSE TO ESTABLISH A BRANCH OFFICE
DBO - EL 302 (Rev. 5-17) Page 3 of 6
6.
The following officers, directors, stockholders and employees are to be stationed at the
new location.
Full first and middle names
must be given; if no middle name,
please so indicate
Position or Title
__________________________________________________________________
__________________________________________________________________
__________________________________________________________________
__________________________________________________________________
__________________________________________________________________
__________________________________________________________________
7.
Any and all attachments, exhibits, materials, or information supplied at the request of the
Commissioner of Business Oversight, at any time, are incorporated into and made part of
this application as if fully set forth therein.
(a) Exhibit _____. A Statement of Identity and Questionnaire, (FS512 SIQ) for each
person named in paragraphs 3, 4, and 5.
(b) Exhibit _____. A Statement of Identity and Employment Application (EL 17419) from
each person who is not required to file FS 512 SIQ in paragraph 6.
(c) Exhibit _____. A Notice of Officers, Directors, Trustees, Employees or Other Persons
Directly or Indirectly Compensated by Escrow Agents (EL 1726) and fingerprint cards
for each person named in paragraphs 3, 4, 5 and 6. The appropriate fee as
described in EL 1726 must accompany the application.
STATE OF CALIFORNIA –DEPARTMENT OF BUSINESS OVERSIGHT
APPLICATION FOR A LICENSE TO ESTABLISH A BRANCH OFFICE
DBO - EL 302 (Rev. 5-17) Page 4 of 6
(d) Exhibit _____. An affidavit for each person named in paragraphs 3, 4, and 5. See
attached Affidavit form.
(e) Exhibit _____. An Escrow Agent Manager Questionnaire (EL 330) indicating that the
proposed manager named in paragraph 5 has met the qualifications of FC Section
17200.8. If the proposed manager has been previously approved by the Department
of Business Oversight also submit a copy of the letter approving the manager.
(f) Exhibit _____. Financial statements prepared in accordance with generally accepted
accounting principles in compliance with Section 1741.5 of the California Code of
Regulations (Title 10), showing additional tangible net worth in the amount set forth in
FC Section 17210.
(If the financial statements submitted with this application are dated more than six
months from the date of filing and/or applicant does not meet the financial
requirement of FC Section 17210, interim financial statements dated not more than
sixty days from the date of filing will be required. The interim financial statements
may be unaudited.)
(g) Exhibit _____. The surety bond needs to be increased by $5,000 for each additional
office location per FC Section 17213.5.
(h) Exhibit _____. A minimum fidelity bond in the amount of $125,000 is required if
applicant will be engaged in the business of receiving escrows for deposit or delivery
of the types of transactions not specified in Subdivision (c) of FC Section 17312.
(i) Exhibit _____. If the fidelity bond contains a deductible, the escrow agent is required
to file with this Department a surety bond (Form EL 303 A) in the amount of the
deductible. The amount of surety bond needs to be maintained in the same amount
as the deductible at all times.
(j) By signing the application you acknowledge that the operation of the additional office,
or offices, will be under the complete management and control of the parent licensee
(FC Section 17213.5 (e)).
STATE OF CALIFORNIA –DEPARTMENT OF BUSINESS OVERSIGHT
APPLICATION FOR A LICENSE TO ESTABLISH A BRANCH OFFICE
DBO - EL 302 (Rev. 5-17) Page 5 of 6
Note: Prior to the issuance of the license, the Department of Business Oversight must be
notified in writing by Escrow Agents’ Fidelity Corporation (EAFC) that the membership fee
required for the branch location has been made pursuant to Section 17320(a) of the
Financial Code, unless the applicant is not required to become a member of EAFC
pursuant to FC Section 17312(a).
All materials submitted in connection with the application will be considered public
information unless confidential treatment is requested pursuant to Section 250.10, Title 10,
California Code of Regulations, and the confidential treatment is confirmed in writing by
this Department.
WHEREFORE, applicant requests that a license be issued by the Commissioner
authorizing applicant to act under the Escrow Law within the State of California.
I certify (or declare) under penalty of perjury that I have read the foregoing application,
including all exhibits attached, or filed therewith, and know the contents thereof, and that
the statements therein are true and correct of my own knowledge.
Executed at ________________________________, California _____________, 20___
___________________________________
(Signature)
___________________________________
(Name)
___________________________________
(Title)
Note: If executed outside the State of California, attach a verification executed and sworn
to before a Notary Public.
Please indicate the name, address and telephone of the person who should be contacted
for information regarding this application. The license will also be mailed to this person
unless otherwise instructed.
Name: _____________________________________________________________
Address: ___________________________________________________________
____________________________________________________________
Telephone: ____________________________________________
(Area Code)