Washington Administrative Code › Title 296 - Labor and Industries, Department of › Chapter 296-17A - Classifications for Washington workers' compensation insurance › Section 296-17A-6502 - Classification 6502

Current through Register Vol. 24-14, July 15, 2024
6502-00
Banks; credit unions; savings and loan associations
Applies to:
Businesses providing banking and related financial services.
				This classification includes clerical office and sales personnel.
Services include, but are not limited to:
* Establishing and servicing checking and savings
				accounts;
* Providing financial consulting services and estate
				planning;
* Lending;
* Transferring funds by computer, telephone, or in-person;
				and
* Vending certificates of deposit and savings bonds.
Supplemental services provided include:
* Automatic teller machines (ATMs) and credit cards;
* Cashier and travelers checks;
* Currency exchange;
* Notary public; and
* Safe deposit box rentals.
Exclusion:
Businesses providing armored car or on-premises security
				services are classified in the applicable services classification.
6502-05
Mortgage companies;
			 financial or investment companies, N.O.C.
Applies to:
* Businesses engaged in providing financial or investment
				services not covered by another classification (N.O.C.).
* Businesses engaged in extending credit in the form of
				mortgage loans by originating mortgage or real estate construction loans,
				selling mortgage loans to permanent investors, and servicing the loans.
* Businesses that offer check cashing services.
This classification includes clerical office and sales
				personnel and staff inspectors who authorize release of funds on construction
				loans.
Exclusion:
Businesses engaged as mortgage brokers who provide the service
				of finding lenders for people who need loans, but who do not make purchases on
				behalf of their clients, are classified in 5301.
6502-06
Stock brokers
Applies to:
Businesses engaged in brokering stocks and other related
				securities. This classification includes clerical office and sales
				personnel.
Services include, but are not limited to:
* Acting as agents for their clients buying, selling, or
				exchanging securities such as, but not limited to, stocks, mutual funds,
				annuities, bonds, and commodity contracts;
* Financial planning advice;
* Arranging for IRA and KEOGH accounts, money market accounts,
				tax free bonds, and related financial investments;
* Acting as investment bankers - Originating, underwriting, and
				distributing securities; buying and selling commodity contracts for their own
				account or for the account of others, and buying, selling, or trading in
				stocks, stocks options, bonds, or commodity contracts.
6502-07
Escrow companies
Applies to:
Escrow companies and title companies providing escrow and/or
				title search services to the general public. This classification includes
				clerical office and sales personnel.
Escrow companies
- A third party who holds in
				custody a written agreement such as a deed or bond (escrow) which does not
				become effective until certain conditions are fulfilled by the grantee.
Title companies
- Conduct title searches to ensure
				there are no liens against property; if there are no liens, they issue a title
				insurance policy; if there are liens, they make them known to potential
				buyers.
Services include, but are not limited to:
* Collecting and disbursing funds for which they are
				custodians;
* Issuing title insurance;
* Providing closing of documents for real estate purchases;
				and
* Preparing and filing documents at the appropriate municipal
				offices.
07-01-014, recodified as § 296-17A-6502, filed 12/8/06,
				  effective 12/8/06. Statutory Authority:
				  RCW
				   51.16.035,
				  51.16.100. 06-12-075, §
				  296-17-715, filed 6/6/06, effective 7/7/06. Statutory Authority:
				  RCW
				   51.16.035. 98-18-042, § 296-17-715,
				  filed 8/28/98, effective 10/1/98. Statutory Authority:
				  RCW
				   51.04.020(1) and
				  51.16.035. 93-12-093, §
				  296-17-715, filed 5/31/93, effective 7/1/93; 89-24-051 (Order 89-22), §
				  296-17-715, filed 12/1/89, effective 1/1/90. Statutory Authority:
				  RCW
				   51.16.035. 85-24-032 (Order 85-33), §
				  296-17-715, filed 11/27/85, effective 1/1/86; 85-06-026 (Order 85-7), §
				  296-17-715, filed 2/28/85, effective 4/1/85; 83-24-017 (Order 83-36), §
				  296-17-715, filed 11/30/83, effective 1/1/84; Order 73-22, § 296-17-715,
				  filed 11/9/73, effective 1/1/74.