WSR 06-13-072



[ Filed June 20, 2006, 8:19 a.m. ]

Subject of Possible Rule Making: WAC 308-90-120.

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 88.02.100.

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The proposed rule would provide that the required deposit trust account be maintained in an in-state bank. This aligns with comments by certain of our advising AGs, and in the interest of consumer protection.

Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: No other agencies.

Process for Developing New Rule: In the interest of providing further protection for the investments of the citizenry.

Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Kim Johnson, Dealer Services, P.O. Box 9039, Olympia, WA 98507-9039, fax (360) 586-6703.

June 19, 2006

D. A. Devoe, Administrator

Dealer and Manufacturer Services

Washington State Code Reviser's Office