Escrow companies: Fidelity Corporation: hearings.

Existing law provides for the licensing of escrow agents by the Commissioner of Business Oversight, and requires licensees to participate as members of the Escrow Agents' Fidelity Corporation, a nonprofit corporation established to pay members for loss of trust obligations, as specified. Existing law authorizes a member or successor in interest aggrieved by any action or decision of Fidelity Corporation to file a written request for a hearing with the commissioner, as provided. Existing law requires the commissioner to abstain from proceeding with a hearing under certain circumstances. This bill would additionally require the commissioner to abstain if an employee of the department is the member's successor in interest.