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WAC 208-680-195

Can an escrow agent prohibit its designated escrow officer from accessing its trust account books and records?

No. Pursuant to WAC 208-680-174 and 208-680-410, the designated escrow agent is primarily responsible for the custody, safety, and accuracy of entries of all required escrow records, including the trust account books and records, and must have signatory authority on all trust accounts. Accordingly, an escrow agent must remove and replace a designated escrow officer if the escrow agent wants to prohibit the designated escrow officer from accessing its trust account books and records. See WAC 208-680-176.
[Statutory Authority: RCW 43.320.040 and 18.44.410. WSR 13-24-022, § 208-680-195, filed 11/22/13, effective 1/1/14. Statutory Authority: RCW 43.320.040 and chapter 18.44 RCW (as amended by 2010 c 34). WSR 10-20-124, § 208-680-195, filed 10/5/10, effective 11/5/10.]
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