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Chapter 208-680 WAC

Last Update: 11/22/13

ESCROW AGENT REGISTRATION ACT

WAC Sections

GENERAL PROVISIONS
Definitions.
ExceptionsGeneral.
ExceptionsAttorneys.
LICENSING AND THE ESCROW OFFICER TEST
Credit and character report.
Licenses not transferable.
What kind of background check and fingerprinting information may the department require with my application for an escrow agent license?
What kind of background check and fingerprinting information may the department require with my application for an escrow officer license?
Escrow officer test.
What escrow officer and agent fees will I be required to pay?
May the director waive fees under the act?
What happens if my check is dishonored or my payment of an escrow fee is insufficient?
DESIGNATED ESCROW OFFICERS
What are the designated escrow officer's responsibilities?
May my designated escrow officer or branch designated escrow officer supervise more than one of my locations?
What must I do if my designated escrow officer or branch designated escrow officer leaves?
May a designated escrow officer or a branch designated escrow officer work for two or more licensed escrow agents?
What constitutes the misuse of my escrow officer license?
Can an escrow agent prohibit its designated escrow officer from accessing its trust account books and records?
ORGANIZATION AND ADMINISTRATION
How must I identify my office location or locations?
Must I display my licenses?
How must I notify the department if I move the location of one or more of my offices?
Escrow agent renewal and reinstatement.
Escrow officer license renewal and reinstatement.
Closure of office.
Deceptive names prohibited.
Reporting significant events.
Employment restrictions.
FINANCIAL RESPONSIBILITY
Fidelity and surety bonds.
Errors and omissions insurance.
When will the cash deposit or securities I used in lieu of an errors and omissions insurance policy be returned to me?
How are claims filed on my cash deposit or securities in lieu of an errors and omissions policy?
How long do I have to maintain my cash deposit and securities, and what are the consequences of failure to do so?
What happens if my errors and omissions policy or my fidelity or surety bonds expire or are canceled?
TRUST ACCOUNT PROCEDURES
Administration of funds held in trust.
What are the requirements for my quarterly reports?
RECORDS AND RESPONSIBILITIES
What trust account records am I required to keep?
Records.
What are my obligations regarding escrow transactions?
Am I obligated to provide escrow services within the time period specified in the escrow instructions?
What requirements must I follow when disbursing funds or other things of value?
When must I notify the department about a civil lawsuit, criminal complaint, or administrative action against me or my escrow officers or employees?
What are the responsibilities of a licensed escrow officer?
What conduct violates the act?
EXAMINATIONS, INVESTIGATIONS, ENFORCEMENT, SANCTIONS, AND COSTS
What are the department's examination powers under the act?
What are the department's investigatory powers under the act?
What are the department's enforcement powers under the act?
What sanctions may the department impose on a licensed escrow agent or escrow officer?
Possession of escrow agent property and business.
Seizure of escrow agent property business by the departmentNotice to licensee.
What are my rights if the department takes possession of my escrow agent property business without cause?
What are the fees I must pay for examinations and investigations?
Abandoned escrow records.
ESCROW ADVISORY COMMITTEE
Organization of committee.
Escrow committee meeting notice.