Rule ELPOC 15.1 - AUDIT AND INVESTIGATION OF BOOKS AND RECORDSThe Board and its Chair have the following authority to examine, investigate, and audit the books and records of any LPO and Closing Firm to ascertain and obtain reports on whether the LPO or Closing Firm has been and is complying with LPORPC 1.12A and B:
(a)Random Examination. The Board may authorize examinations of the books and records of any LPO or Closing Firm selected at random. Only the books and records of transactions in which an LPO participated may be examined in an examination under this section.(b)Particular Examination. Upon receipt of information that a particular LPO or Closing Firm may not be in compliance with LPORPC 1.12A and B the Chair may authorize an examination limited to the LPO or Closing Firm's books and records. Information may be presented to the Chair without notice to the LPO or Closing Firm. Disclosure of this information is subject to rules 3.1-3.4.(c)Audit. After an examination under section (a) or (b), if the Chair determines that further examination is warranted, the Chair may order an appropriate audit of the LPO's or Closing Firm's books and records, including verification of the information in those records from available sources.Wash. Admi. And. Prac. R. ELPOC 15.1
Adopted effective 1/1/2009.