Waiver of bond or policy where not reasonably available -- Determination procedure -- Waiver period.
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.
[2011 1st sp.s. c 21 § 46; 1999 c 30 § 31; 1988 c 178 § 2; 1977 ex.s. c 156 § 30. Formerly RCW 18.44.360.]
| Effective date -- 2011 1st sp.s. c 21: See note following RCW 72.23.025.|
Severability -- 1988 c 178: See note following RCW 18.44.400.