S-4137               _______________________________________________

                                                   SENATE BILL NO. 6589

                        _______________________________________________

State of Washington                               51st Legislature                              1990 Regular Session

By Senators von Reichbauer, Moore and Johnson

Read first time 1/19/90 and referred to Committee on  Financial Institutions & Insurance.

AN ACT Relating to title insurers; and amending RCW 48.29.040.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

        Sec. 1.  Section .29.04, chapter 79, Laws of 1947 as amended by section 17, chapter 193, Laws of 1957 and RCW 48.29.040 are each amended to read as follows:

          Subject to the deposit requirements of RCW 48.29.030, a title insurer having its principal offices in one county may be authorized to transact business in only such additional counties as to which it owns and maintains, or has a duly authorized agent that owns or leases and maintains, a complete set of tract indexes, or as to which the title insurer purchases for the full amount of insurance to be ultimately insured a title policy from another insurer who owns and maintains, or has a duly authorized agent that owns or leases and maintains, a complete set of tract indexes in that county.