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Current as of January 01, 2025 | Updated by Findlaw Staff
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.
Cite this article: FindLaw.com - Washington Revised Code Title 18. Businesses and Professions § 18.44.071. Escrow officer required for handling transactions--Responsibility of designated escrow officer--Branch escrow officers - last updated January 01, 2025 | https://codes.findlaw.com/wa/title-18-businesses-and-professions/wa-rev-code-18-44-071/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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