WSR 21-16-097
PREPROPOSAL STATEMENT OF INQUIRY
OFFICE OF THE
INSURANCE COMMISSIONER
[Insurance Commissioner Matter R 2021-20—Filed August 3, 2021, 12:41 p.m.]
Subject of Possible Rule Making: Out of state title records storage.
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The current state law on out-of-state title records storage requirements mandates that title insurance companies and agents, who are conducting business of an escrow agent, must keep adequate records of all transactions, and these records must be maintained in Washington, unless otherwise approved by the commissioner (RCW
48.29.190 (1)(a)).
Rule making is required to outline how to request approval under RCW
48.29.190 (1)(a) and detail requirements for title insurance companies and agents storing title records outside of Washington state.
Process for Developing New Rule: August 20, 2021.
Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Tabba Alam, 302 Sid Snyder Avenue S.W., Olympia, WA 98504, phone 360-725-7170, fax 360-586-3109, TTY 360-586-0241, email rulescoordinator@oic.wa.gov, website www.insurance.wa.gov.
August 3, 2021
Mike Kreidler
Insurance Commissioner