Statutes, codes, and regulations
Washington Administrative Code
Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460)Chapter 208-680 - Escrow Agent Registration Act
FINANCIAL RESPONSIBILITY
Section 208-680-350 - How long do I have to maintain my cash deposit and securities, and what are the consequences of failure to do so?

Wash. Admin. Code § 208-680-350

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Current through Register Vol. 24-23, December 1, 2024
Section 208-680-350 - How long do I have to maintain my cash deposit and securities, and what are the consequences of failure to do so?

If you assign, transfer, or set over a cash or securities deposit in lieu of an errors and omissions policy, you must keep the deposit in full force and effect at all times as a condition precedent to your authority to transact escrow business. Your deposit or securities must at all times be at least the principal amount of fifty thousand dollars.

Failure to maintain the deposit or securities at the minimum level is sufficient grounds for the suspension or revocation of your license.

Wash. Admin. Code § 208-680-350

Amended by WSR 13-24-022, filed 11/22/13, effective 1/1/2014

Statutory Authority: RCW 43.320.040 and chapter 18.44 RCW (as amended by 2010 c 34). 10-20-124, § 208-680-350, filed 10/5/10, effective 11/5/10.