Washington Code 18.44.041 – Branch offices — Application to establish — Requirements
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(1) A licensed escrow agent shall not operate an escrow business in a location other than the location set forth on the agent’s license or branch office license issued by the director. The licensed escrow agent may apply to the director for authority to establish one or more branch offices under the same name as the main office.
Terms Used In Washington Code 18.44.041
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- person: may be construed to include the United States, this state, or any state or territory, or any public or private corporation or limited liability company, as well as an individual. See Washington Code 1.16.080
(2) Each branch office operated by a licensed escrow agent shall be supervised by a licensed escrow officer designated by the licensed escrow agent as the designated branch escrow officer for that branch.
(3) Any person desiring to operate a branch escrow office shall make application on a form provided by the director and pay a fee as set forth in rule by the director. Such application shall identify the licensed escrow officer designated as the designated branch escrow officer to supervise the agent’s escrow activity at the branch office.
(4) No escrow agent branch office license shall be issued until the applicant has satisfied the director that the escrow activity of the branch meets all financial responsibility requirements governing the conduct of escrow activity.
[ 1999 c 30 § 28; 1977 ex.s. c 156 § 26. Formerly RCW 18.44.330.]