PREPROPOSAL STATEMENT OF INQUIRY
INSURANCE COMMISSIONER
Subject of Possible Rule Making: Defining things of value that a title company is permitted to give to any person in a position to refer or influence the referral of title insurance business.
Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 48.02.060, section 9(5), chapter 110, Laws of 2008.
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: Section 3(2), chapter 110, Laws of 2008, prohibits title companies, their employees, and representatives from giving anything of value to any person in a position to refer or influence the referral of title insurance business to the title company, except as permitted by rules adopted by the commissioner. These rules are intended to set forth the specific things of value that title companies will be permitted to give to those in a position to refer or influence the referral of title insurance business.
Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.
Process for Developing New Rule: Submit written comments by August 7, 2008, to Kacy Scott, P.O. Box 40258, Olympia, WA 98504-0258, e-mail Kacys@oic.wa.gov, fax (360) 586-3109.
Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Kacy Scott, P.O. Box 40258, Olympia, WA 98504-0258, e-mail Kacys@oic.wa.gov, fax (360) 586-3109.
June 18, 2008
Mike Kreidler
Insurance Commissioner