Wash. Admin. Code § 284-29-200 - Scope and purpose
(1)RCW
48.29.210(2) states: "A
title insurer, title insurance agent , or employee, agent, or other
representative of a title insurer or title insurance agent shall not, directly
or indirectly, give anything of value to any person in a position to refer or
influence the referral of title insurance business to either the title
insurance company or title insurance agent, or both, except as permitted under
rules adopted by the commissioner." WAC
284-29-200 through
284-29-265 establishes standards
for acceptable giving of things of value by a title company to any person in a
position to refer or influence the referral of title insurance business to the
title company. If the thing of value is not clearly and specifically included
in WAC 284-29-200 through
284-29-265 as a thing of value
that a title company may give to a person, its giving is prohibited.
(2)RCW
48.29.210 not only applies to title insurance
producers or associates of producers , but to every person in position, directly
or indirectly, to refer or influence the referral of title insurance
business.
(3) No title company is
required to give to any person any of the things of value that are permitted by
WAC 284-29-200 through
284-29-265 and a person is not
entitled to receive any of the permitted things of value from a title
company.
(4) Adoption of WAC
284-29-200 through
284-29-265 must not be construed
to mean that the commissioner encourages title companies to give anything of
value to any person in a position to refer or influence the referral of title
insurance business.
(5) Nothing
contained in WAC
284-29-200 through
284-29-265 prohibits the payment
by a title insurer or title insurance agent to a producer of a return on
ownership interest in the title insurer or title insurance agent as set forth
in RCW
48.29.213.
(6) Title companies must not enter into any
agreement, arrangement, scheme, or understanding or in any other manner pursue
any course of conduct, designed to avoid
RCW
48.29.210 and WAC
284-29-200 through
284-29-265.
Notes
Statutory Authority: RCW 48.02.060, 48.29.005 and 48.29.210. 09-05-077 (Matter No. R 2008-21), § 284-29-200, filed 2/17/09, effective 3/20/09.
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