Feldman
Feldman v. Keene
Opinion
Opinion
Shinn, J.
E. Feldman, as assignee of Holmgren and Sawyer, appeals from an order in a receivership proceeding holding invalid an attachment lien on the property of Surety Land Title Co., Inc., a corporation. The corporation, to be referred to as Surety, was engaged in the business of escrow agent under the “Escrow Law,” (Fin. Code, div. 6), subject to the supervision of the Commissioner of Corporations. March 5, 1959, the Commissioner, pursuant to section 17415 of the Financial Code (as it then read), issued an order to Surety to discontinue escrow activities with respect to new escrow business. March 11, the Commissioner issued another order to Surety to discontinue “all business operations and activities under the Escrow Law, and you and each of you are hereby ordered and directed to discontinue forthwith the disbursement and receipt of trust funds, and the receipt, delivery, or recordation of documents heretofore received in escrow by said Surety Land Title Co., Inc., dba Surety Land Escrow pending the further written order of the Commissioner of Corporations.” The notice was also directed to Community Bank, depository of Surety’s trust funds, Title Insurance and Trust Company and Pacific…