WSR 01-08-006

OFFICE OF THE

INSURANCE COMMISSIONER

[ Filed March 22, 2001, 10:12 a.m. ]

In the Matter of the Acquisition

of CHARTER TITLE INSURANCE CORPORATION

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No. G 01-11

NOTICE OF HEARING


TO:

Patrick R. Lamb

Carney, Badley, Smith & Spellman

701 5th Avenue, Suite 2200

Seattle, WA 98104-7091


John B. Martin, Vice President

Stewart Title Guaranty Company

700 5th Avenue, Suite 5500

Seattle, WA 98104-0585


Robert P. Oakland, Senior Vice President

Stewart Title Guaranty Company

700 5th Avenue, Suite 5500

Seattle, WA 98104-0585


John W. Tagge, President

Charter Title Insurance Corporation

16300 Mill Creek Blvd., Suite 208

Post Office Box 12489

Mill Creek, WA 98082-0489


Charter Title Insurance Corporation is a Washington domestic title insurance company. It is not a member of an insurance holding company. It does not have any affiliates or subsidiaries.


Stewart Information Services Corporation proposes to acquire Charter Title Insurance Corporation. Stewart Information Services Corporation is the ultimate controlling person of a holding company system composed of a large number of companies engaged in the title insurance business throughout the United States.


The acquisition of a domestic Washington insurance company is controlled by Chapter 48.31B RCW. Pursuant to RCW 48.31B.015 and WAC 284-18-910, a Form "A" submission was made by the applicants. The Form "A" was deemed complete March 16, 2001. The determination that the Form "A" was complete begins the 60 day period within which the Insurance Commissioner must hold a hearing and decide whether to approve the change of control of the companies.


YOU ARE HEREBY NOTIFIED that a hearing will be held commencing Wednesday April 25, 2001 at 1:30 p.m. in the 2nd Floor Conference Room of the Insurance Commissioner's Office at 420 Golf Club Road, Lacey, Washington 98503, to consider the proposed acquisition of Charter Title Insurance Corporation.


The hearing will be held under the authority granted the Commissioner by Chapter 48.04 RCW and RCW 48.31B.015. RCW 48.31B.015 lists the findings which must be made before approval can be given to any proposed acquisition of control over a Washington domestic insurer.


The basic facts relied upon are those set forth in the Form "A" filed with the Commissioner. The complete Form "A" will be made part of the record of the hearing. The Commissioner has not taken, and will not take, any position on this matter prior to entry of the hearing order.


All parties may be represented at the hearing. They may examine witnesses and fully respond and present evidence and argument on all issues involved, as required by the Administrative Procedure Act. The hearing will be governed by the Administrative Procedure Act, Chapter 34.05 RCW, and the model rules of procedure contained in Chapter 10-08 WAC. A party who fails to attend or participate in any stage of the proceeding may be held in default in accordance with Chapter 34.05 RCW.


The Commissioner will be represented by James E. Tompkins, Assistant Deputy Commissioner, and Ron Pastuch, Financial Analyst.


Assistant Deputy Commissioner John B. Woodall has been designated to hear and determine this matter. His address is Office of the Insurance Commissioner, Post Office Box 40259, Olympia, Washington 98504-0259. His telephone number is (360) 407-0535.


ENTERED AT OLYMPIA, WASHINGTON, this 21st day of March, 2001.

MIKE KREIDLER

Insurance Commissioner

By:
JOHN B. WOODALL

Assistant Deputy Commissioner

Company Supervision Division

Washington State Code Reviser's Office