INSURANCE COMMISSIONER
In the Matter of the Acquisition of CHARTER TITLE INSURANCE CORPORATION |
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No. G 01-11 NOTICE OF HEARING |
Patrick R. Lamb
Carney, Badley, Smith & Spellman
701 5th Avenue, Suite 2200
Seattle, WA 98104-7091
John B. Martin, Vice President
Stewart Title Guaranty Company
700 5th Avenue, Suite 5500
Seattle, WA 98104-0585
Robert P. Oakland, Senior Vice President
Stewart Title Guaranty Company
700 5th Avenue, Suite 5500
Seattle, WA 98104-0585
John W. Tagge, President
Charter Title Insurance Corporation
16300 Mill Creek Blvd., Suite 208
Post Office Box 12489
Mill Creek, WA 98082-0489
Charter Title Insurance Corporation is a Washington domestic
title insurance company. It is not a member of an insurance
holding company. It does not have any affiliates or
subsidiaries.
Stewart Information Services Corporation proposes to acquire
Charter Title Insurance Corporation. Stewart Information
Services Corporation is the ultimate controlling person of a
holding company system composed of a large number of companies
engaged in the title insurance business throughout the United
States.
The acquisition of a domestic Washington insurance company is
controlled by Chapter 48.31B RCW. Pursuant to RCW 48.31B.015 and
WAC 284-18-910, a Form "A" submission was made by the applicants.
The Form "A" was deemed complete March 16, 2001. The
determination that the Form "A" was complete begins the 60 day
period within which the Insurance Commissioner must hold a
hearing and decide whether to approve the change of control of
the companies.
YOU ARE HEREBY NOTIFIED that a hearing will be held commencing
Wednesday April 25, 2001 at 1:30 p.m. in the 2nd Floor Conference
Room of the Insurance Commissioner's Office at 420 Golf Club
Road, Lacey, Washington 98503, to consider the proposed
acquisition of Charter Title Insurance Corporation.
The hearing will be held under the authority granted the
Commissioner by Chapter 48.04 RCW and RCW 48.31B.015. RCW 48.31B.015 lists the findings which must be made before approval
can be given to any proposed acquisition of control over a
Washington domestic insurer.
The basic facts relied upon are those set forth in the Form "A"
filed with the Commissioner. The complete Form "A" will be made
part of the record of the hearing. The Commissioner has not
taken, and will not take, any position on this matter prior to
entry of the hearing order.
All parties may be represented at the hearing. They may examine
witnesses and fully respond and present evidence and argument on
all issues involved, as required by the Administrative Procedure
Act. The hearing will be governed by the Administrative
Procedure Act, Chapter 34.05 RCW, and the model rules of
procedure contained in Chapter 10-08 WAC. A party who fails to
attend or participate in any stage of the proceeding may be held
in default in accordance with Chapter 34.05 RCW.
The Commissioner will be represented by James E. Tompkins,
Assistant Deputy Commissioner, and Ron Pastuch, Financial
Analyst.
Assistant Deputy Commissioner John B. Woodall has been designated
to hear and determine this matter. His address is Office of the
Insurance Commissioner, Post Office Box 40259, Olympia,
Washington 98504-0259. His telephone number is (360) 407-0535.
ENTERED AT OLYMPIA, WASHINGTON, this 21st day of March, 2001.
MIKE KREIDLER Insurance Commissioner |
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By: | |
JOHN B. WOODALL Assistant Deputy Commissioner Company Supervision Division |