(1) For purposes of determining compliance with chapter
18.44 RCW and chapter
208-680 WAC, each escrow agent shall file with the director, within thirty days following the end of each fiscal quarter, the following:
(a) A report concerning its operations;
(b) A report concerning the trust account administration; and
(c) A one page summary of the three way reconciliation from the last month of the quarter.
All reports must be in a form prescribed by the director.
(2) As to trust account matters, the designated escrow officer of the escrow agent shall certify under penalty of perjury, in a manner consistent with RCW
9A.72.085, that he or she has reviewed the report and any exhibits filed with it and that the information contained in the report and in any exhibits is true and correct. The chief executive officer or chief financial officer of the escrow agent, or other knowledgeable person acceptable to the director, may certify the information on the report not related to trust account matters.
(3) Failure to file the report within the time period specified in this rule shall be considered a violation of RCW
18.44.430.
[Statutory Authority: RCW 43.320.040, 18.44.410. 07-22-010, § 208-680E-025, filed 10/25/07, effective 11/25/07. Statutory Authority: RCW 18.44.410. 05-03-038, § 208-680E-025, filed 1/10/05, effective 2/10/05.]