Section 208-690-045. Alternatives to the surety bond.  


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  • May I hold a certificate of deposit instead of the bond? In lieu of the surety bond required under WAC 208-690-040, an applicant or licensee may substitute an assignment of a certificate of deposit in favor of the director in a form provided by the director. The certificate of deposit must be issued by a financial institution in the state of Washington whose shares or deposits are insured by an agency of the government of the United States. The depositor is entitled to receive all interest and dividends on the certificate of deposit. The assignment of a certificate of deposit will be held for at least five years after the date when a replacement security instrument is filed with the director, or at least five years after the date the licensee violates the chapter or the licensee ceases to provide money services in this state, whichever is longer.
    [Statutory Authority: RCW 43.320.040 and 19.230.310. WSR 16-14-022, § 208-690-045, filed 6/27/16, effective 8/1/16. Statutory Authority: RCW 43.320.040, 19.230.310, 2010 c 37. WSR 10-20-123, § 208-690-045, filed 10/5/10, effective 11/5/10. Statutory Authority: RCW 19.230.310 and 43.320.040. WSR 04-15-005, § 208-690-045, filed 7/7/04, effective 8/7/04.]
RCW 43.320.040 and 19.230.310. WSR 16-14-022, § 208-690-045, filed 6/27/16, effective 8/1/16. Statutory Authority: RCW 43.320.040, 19.230.310, 2010 c 37. WSR 10-20-123, § 208-690-045, filed 10/5/10, effective 11/5/10. Statutory Authority: RCW 19.230.310 and 43.320.040. WSR 04-15-005, § 208-690-045, filed 7/7/04, effective 8/7/04.

Rules

208-690-040,