A licensed escrow agent shall provide notice in writing to the director and to the insurer providing coverage under RCW 18.44.201 of any change of business location, branch office location, or business name. Such notice shall be given in a form prescribed by the director and shall be delivered at least ten business days prior to the change in business location or name. Upon the surrender of the original license for the agent or the applicable branch office and a payment of a fee, the director shall issue a new license for the new location.