§ 18.44.071. Escrow officer required for handling transactions -- Responsibility of supervising escrow agent
Every licensed escrow agent shall ensure that all escrow transactions are supervised by a licensed escrow officer. In the case of a partnership, the designated escrow officer shall be a partner in the partnership and shall act on behalf of the partnership. In the case of a corporation, the designated escrow officer shall be an officer of the corporation and shall act on behalf of the corporation. The designated escrow officer shall be responsible for that agent's handling of escrow transactions, management of the agent's trust account, and supervision of all other licensed escrow officers employed by the agent. Responsibility for the conduct of any licensed escrow officer covered by this chapter shall rest with the designated escrow officer or designated branch escrow officer having direct supervision of such person's escrow activities. The branch designated escrow officer shall bear responsibility for supervision of all other licensed escrow officers or other persons performing escrow transactions at a branch escrow office.
[1999 c 30 § 21; 1977 ex.s. c 156 § 11; 1971 ex.s. c 245 § 7. Formerly RCW 18.44.200.]
Sections: Previous 18.44.011 18.44.021 18.44.031 18.44.041 18.44.051 18.44.061 18.44.071 18.44.081 18.44.091 18.44.101 18.44.111 18.44.121 18.44.127 18.44.131 18.44.141 NextLast modified: April 7, 2009