FINAL BILL REPORT

SHB 1287

                                   C 51 L 89

BYHouse Committee on Financial Institutions & Insurance (originally sponsored by Representatives Day, Chandler, Crane, Winsley, Dellwo, Schmidt and P. King) 

Extending the time frame for possible renewal of escrow agent licenses.

House Committe on Financial Institutions & Insurance

Senate Committee on Financial Institutions & Insurance

SYNOPSIS AS ENACTED

BACKGROUND:

When an escrow officer ceases to represent a certified escrow agent, the escrow officer's license must be surrendered to the Department of Licensing.  The escrow officer may apply to the department to have his or her license placed on inactive status for a period of three years so long as the escrow officer continues to pay the annual license renewal fee.

SUMMARY:

The three year limit for maintaining an inactive escrow officer license is repealed.  Licenses may remain on inactive status indefinitely.

VOTES ON FINAL PASSAGE:

      House 96   0

      Senate    43     0

EFFECTIVE:July 23, 1989