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284-29-150  <<  284-29-160 >>   284-29-200

PDFWAC 284-29-160

Recordkeeping.

(1) A title insurance agent must keep and maintain complete and accurate records of the names and business addresses of those persons who have had a financial interest in the title insurance agent who are reasonably known or reasonably believed by the title insurance agent to be producers.
(2) A title insurance agent must keep and maintain records of its title orders sufficient to identify the source of the title orders.
(3) The records required by WAC 284-29-100 through 284-29-160 must be kept by the title insurance agent for a period of three years after the end of the year being reported upon.
(4) All records of a title insurance agent kept pursuant to WAC 284-29-100 through 284-29-160 must be available to the commissioner or the commissioner's representative during regular business hours.
(5) Title insurance companies and agents shall store these records in this state, unless otherwise approved by the commissioner in accordance with RCW 48.29.190.
(a) Title insurance companies and agents must request approval from the commissioner prior to storing their records outside of the state. Requests shall be emailed to prodcomp@oic.wa.gov.
(b) The commissioner will review and consider approval of the out-of-state title records storage if the records are readily accessible, securely stored, and maintained by the required statutory terms.
(c) If the title insurance company or agent plans to change the approved location of the out-of-state record storage, notification to the commissioner is required and reapproval must be granted prior to the change.
(d) Out-of-state record storage must comply with the security and data breach reporting requirements in WAC 284-04-625.
[Statutory Authority: RCW 48.02.060 (3)(a), 48.29.005, and 48.29.190 (1)(a). WSR 21-24-101 (Matter No. R 2021-20), § 284-29-160, filed 12/1/21, effective 1/1/22. Statutory Authority: RCW 48.02.060, 48.29.005, and 48.29.015. WSR 09-20-070 (Matter No. R 2008-22), § 284-29-160, filed 10/5/09, effective 11/5/09.]
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