The director shall, within thirty days after a written request, hold a public hearing to determine whether the fidelity bond, surety bond, and/or the errors and omissions policy specified in RCW 18.44.201 is reasonably available to a substantial number of licensed escrow agents. If the director determines and the insurance commissioner concurs that such bond or bonds and/or policy is not reasonably available, the director shall waive the requirements for such bond or bonds and/or policy for a fixed period of time.
RCW 18.44.221
Waiver of bond or policy where not reasonably available—Determination procedure—Waiver period.
Known as the Escrow Agent Registration Act
The act spans §§ 18–18 (55 sections).
2011 1st sp.s. c 21 s 46; 1999 c 30 s 31; 1988 c 178 s 2; 1977 ex.s. c 156 s 30
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.