Post
Topic
Board Legal
Re: Is multi-signature legally an 'escrow' account which could require a license?
by
Nagle
on 14/03/2014, 06:58:33 UTC
With regard to Internet escrow companies, “escrow” also includes any transaction in which one person, for the purpose of effecting the sale or transfer of personal property or services to another person, delivers money, or its Internet-authorized equivalent, to a third person to be held by that third person until the happening of a specified event or the performance of a prescribed condition, when it is then to be delivered by that third person to a grantee, grantor, promisee, promisor, obligee, obligor, bailee, bailor, or any agent or employee of any of the latter.
Search Google for "Internet escrow fraud" for why California did that.