WSR 12-08-028

PREPROPOSAL STATEMENT OF INQUIRY

OFFICE OF

INSURANCE COMMISSIONER

[ Insurance Commissioner Matter No. R 2012-08 -- Filed March 28, 2012, 3:54 p.m. ]

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 48.20.060, 48.29.005, and 48.29.210.

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: RCW 48.29.210(2) 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. The commissioner will consider amendments to chapter 284-29 WAC defining "give" and other amendments related to the change in the definition of "give."

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 May 10, 2012, to Jim Tompkins, P.O. Box 40258, Olympia, WA 98504-0258, e-mail jimt@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 Jim Tompkins, P.O. Box 40258, Olympia, WA 98504-0258, e-mail jimt@oic.wa.gov, fax (360) 586-3109.

March 28, 2012

Mike Kreidler

Insurance Commissioner

Washington State Code Reviser's Office