RCW 19.310.110
Deposit of client funds—Written notice.
(1) An exchange facilitator must deposit all client funds in a separately identified account, as defined in treasury regulation section 1.468B-6(c)(ii), for the particular client or client's matter, and the client must receive all the earnings credited to the separately identified account.
(2) An exchange facilitator must provide the client with written notification of how the exchange proceeds have been invested or deposited.
[ 2013 c 228 § 6; 2009 c 70 § 12.]
Structure Revised Code of Washington
Title 19 - Business Regulations—Miscellaneous
Chapter 19.310 - Exchange Facilitators.
19.310.020 - Actions for collection of compensation—Requirements.
19.310.030 - Notice of change in control—Exceptions.
19.310.040 - Duties of exchange facilitator—Fidelity bonds.
19.310.050 - Claims on fidelity bonds—Remedies.
19.310.060 - Duties of exchange facilitator—Errors and omissions policies.
19.310.070 - Claims on errors and omissions policies—Remedies.
19.310.090 - Administration of places of business—Direct management.
19.310.100 - Prohibited practices.
19.310.110 - Deposit of client funds—Written notice.
19.310.120 - Prima facie evidence of fraud—Violations—Penalty—Cure for violations.
19.310.130 - Violations—Misdemeanor.
19.310.150 - Violation of chapter—Civil suit—Damages.