Washington Code 18.44.211 – Cancellation of fidelity bond or surety bond, or both — New bond required
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In the event of cancellation of either the fidelity bond, the surety bond, or both, the director shall require the filing of a new bond or bonds. Failure to provide the director with satisfactory evidence of a new bond after receipt by the director of notification that one is required or by the effective date of the cancellation notice, whichever is later, shall be sufficient grounds for the suspension or revocation of the escrow agent’s license.
[ 1999 c 30 § 6; 1965 c 153 § 6. Formerly RCW 18.44.060.]
Terms Used In Washington Code 18.44.211
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.