HeraldNet (10/02/08)
Stewart Title of Snohomish County, Wash., will pay $400,000 to settle charges that it provided real estate agents with excessive gifts and incentives for steering title insurance business to the company. While $250,000 of the fine is due within the next month, Stewart will not have to pay the remaining $150,000 as long as it completes a compliance plan that includes adhering to state law for the next two years. Stewart initially had been fined nearly $2 million after an investigation uncovered 195 violations, with Insurance Commissioner Mike Kreidler imposing a $10,000 penalty for each incident. Washington law limits gifts to referring agents to $25 per year per person.
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