WSR 07-14-138

PREPROPOSAL STATEMENT OF INQUIRY

DEPARTMENT OF

FINANCIAL INSTITUTIONS

[ Filed July 3, 2007, 3:35 p.m. ]

Subject of Possible Rule Making: Amending the rules, chapters 208-680A - 208-680G WAC, implementing the Escrow Agent Registration Act, chapter 18.44 RCW.

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 43.320.040, 18.44.410.

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: Existing rules must be amended for clarity and consistency in implementing chapter 18.44 RCW and to reflect current industry practices.

Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.

Process for Developing New Rule: The department will seek input from the escrow commission and other industry stakeholders concerning these proposed rules. The department may also discuss any proposed rules with other interested parties or regulatory agencies.

Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Jeannette Terry, Division of Consumer Services, P.O. Box 41200, Olympia, WA 98504-1200, (360) 902-8786, jterry@dfi.wa.gov.

June 29, 2007

Deborah Bortner, Director

Division of Consumer Services

Washington State Code Reviser's Office