Revised Code of Washington
Chapter 18.44 - Escrow Agent Registration Act.
18.44.455 - Possession of property and business—Grounds for director's authority.

RCW 18.44.455
Possession of property and business—Grounds for director's authority.

(1) The director may immediately take possession of the property and business of a licensee whenever it appears to the director that, as a result of an examination, report, investigation, or complaint:
(a) The licensee is conducting its business in such an unsafe or unsound manner as to render its further operations hazardous to the public;
(b) The licensee has suspended payment of its trust obligations; or
(c) The licensee neglects or refuses to comply with any order of the director made pursuant to this chapter unless the enforcement of such an order is restrained in a proceeding brought by the licensee.
(2) The director may retain possession of the licensee's property and business until the licensee resumes business or its affairs are finally liquidated as provided in RCW 18.44.470. The licensee may only resume business upon those terms as the director may prescribe.

[ 2010 c 34 § 11.]

Structure Revised Code of Washington

Revised Code of Washington

Title 18 - Businesses and Professions

Chapter 18.44 - Escrow Agent Registration Act.

18.44.011 - Definitions.

18.44.021 - License required—Exceptions.

18.44.023 - Multistate licensing system—Director's discretion.

18.44.031 - License—Application, requisites.

18.44.041 - Branch offices—Application to establish—Requirements.

18.44.051 - Branch offices—Issuance of license.

18.44.061 - Change in business location, office location, business name—Written notice required.

18.44.071 - Escrow officer required for handling transactions—Responsibility of designated escrow officer—Branch escrow officers.

18.44.081 - Escrow officer's license—Application—Form—Timely filing—Proof of moral character, etc.

18.44.091 - License—Fees—Renewal.

18.44.101 - License—Retention and display by agent—Termination—Inactive licenses.

18.44.111 - Licenses—Form and size—Contents.

18.44.121 - Fees.

18.44.127 - Certificate of registration suspension—Noncompliance with support order—Reissuance.

18.44.131 - License application—Issuance.

18.44.141 - License—Duration—Posting.

18.44.151 - License—Expiration and renewal—Fee.

18.44.161 - License—Reinstatement.

18.44.171 - Engaging in business without license—Penalty.

18.44.181 - Proof of licensure prerequisite to action for fee.

18.44.191 - Director—Educational conferences—Examinations.

18.44.195 - Examination.

18.44.201 - Financial responsibility—Fidelity bond—Errors and omissions policy—Surety bond.

18.44.211 - Cancellation of fidelity bond or surety bond, or both—New bond required.

18.44.221 - Waiver of bond or policy where not reasonably available—Determination procedure—Waiver period.

18.44.231 - Corporation for insuring where bond or policy not reasonably available.

18.44.241 - Waiver of errors and omissions policy requirement—Criteria.

18.44.251 - Waiver—Affidavit.

18.44.261 - Waiver—Determination.

18.44.270 - Application of administrative procedure act.

18.44.271 - Waiver—Certificate of waiver.

18.44.281 - Waiver—Denial.

18.44.291 - Waiver—Application by escrow license applicant.

18.44.301 - Prohibited practices.

18.44.305 - Financial interest in an escrow agent—Prohibited practices.

18.44.311 - Prohibited employment practices.

18.44.400 - Records and accounts—Segregation and disbursements of funds—Violation of section, penalties.

18.44.410 - Powers of director.

18.44.413 - Informal settlement of complaints or enforcement actions.

18.44.420 - Investigation of violations—Procedure—Powers of director.

18.44.425 - Subpoena authority—Application—Contents—Notice—Fees.

18.44.430 - Actions against license—Grounds.

18.44.440 - Violations—Cease and desist orders.

18.44.450 - Referral fees prohibited—Consumer protection act—Application.

18.44.455 - Possession of property and business—Grounds for director's authority.

18.44.457 - Possession of property and business—Scope of director's authority.

18.44.460 - License suspension—Nonpayment or default on educational loan or scholarship.

18.44.465 - Termination of license—Effect upon preexisting escrows—Notice to principals.

18.44.470 - Receivership.

18.44.480 - Remedies—Affecting corporate franchise.

18.44.490 - Authority to prosecute—Grants of injunctive relief, temporary restraining orders.

18.44.500 - Committee to advise director—Members—Compensation and travel expenses.

18.44.510 - Compensation and travel expenses of committee members.

18.44.901 - Construction—1965 c 153.

18.44.902 - Short title.