Washington Administrative Code
Title 284 - Insurance Commissioner, Office of the
Chapter 284-29 - Title insurance
Section 284-29-320 - Title insurance agent escrow records
Current through Register Vol. 24-06, March 15, 2024
Under RCW 48.29.190 title insurance agents are required to keep adequate records of all transactions handled by the title insurance agent. These records must be in an organized form and must include and conform with the following requirements:
(1) An individual ledger for each escrow trust account for which funds are received. All of the transactions in the individual ledger must be accurate, posted, and kept current to the date of the most recent activity.
(2) All receipts and disbursements must be posted in the individual ledger, including:
(3) All documents pertinent to all individual trust account transaction activity must be retained, including:
(4) Transaction files containing all escrow instructions, closing statements, correspondence for each transaction, agreements, contracts, leases, and any other pertinent supporting documents necessary to validate the transaction.
(5) A computerized accounting system must:
(6) At least quarterly, do the following: